In a move to enhance consumer convenience and streamline digital transactions, Google in accordance with the Reserve Bank of India (RBI) has announced an increase in the transaction value limit for auto-renewing and recurring subscriptions. The limit has been raised from 5,000 INR to 15,000 INR per transaction, effective immediately.
Google Play users stand to benefit significantly from this regulatory change. With the new limit in place, users can now purchase auto-renewing subscriptions up to 15,000 INR using credit or debit cards, prepaid payment instruments, or Unified Payments Interface (UPI). This adjustment is expected to cater to the growing demand for higher-value subscription services across various sectors, including entertainment, education, software, and more.
Previously, the 5,000 INR cap often required users to manually renew or make multiple transactions for higher-value subscriptions, which was inconvenient for many. The revised limit aims to simplify the payment process, allowing consumers to manage and maintain their subscriptions seamlessly.
However, the RBI has stipulated that subscriptions priced above the 15,000 INR threshold will continue to be offered as prepaid plans. These higher-value subscriptions will require one-time payments and will not auto-renew. This measure ensures that consumers retain control over significant expenditures and are not subjected to unexpected recurring charges.
Google Play has welcomed the RBI’s decision, highlighting its potential to improve user experience. “We are committed to providing a seamless and convenient payment experience for our users. The increased limit for auto-renewing subscriptions is a positive step towards meeting the evolving needs of our customers,” stated a Google Play spokesperson.
Users with questions or concerns about how these changes might affect their subscriptions are encouraged to contact Google Play developer support for assistance. The support team is available to help users navigate the new regulations and ensure a smooth transition.
This regulatory update is part of the RBI’s ongoing efforts to support the digital economy and ensure that payment systems are user-friendly and efficient. As more consumers and businesses shift towards digital transactions, such measures are crucial in fostering a robust digital payments ecosystem in India.
