Google's online payment policy is subject to change from January 1. Find out what these changes are.

This change is reflected in the new card regulations of the Central Bank of India. The RBI has said that no legal entity or merchant other than the card issuer and the card network should hold card content or card data (CoF).

Google's online payment policy is subject to change from January 1. Find out what these changes are.

Google has warned users that from January 1, 2022, user card details such as card number and expiration date cannot be stored in the current format. This is because Google must follow the RBI guidelines for Payment Aggregators (PAs) and Payment Gateways (PGs).

This change is necessary because many users have a card number stored in their monthly Google Work or Google Play payment for subscription services. This change is reflected in the new card regulations of the Reserve Bank of India (RBI). The Central Bank of India (RBI) has stated that from January 1, 2022, card issuers and any legal entities or merchants without a card should not keep the contents of a card or a set of card files. data (CoF).

“As of January 1, 2022, there is no room in the debit or charge card, except advertisements and network cards, to store real data,” RBI said in its newsletter. All stored data will be deleted. “The new law also means that many consumers have seen monthly discounts rejected or canceled.

This information has also caused frustration for many businesses. This can create new issues for users who have saved their payment card details for a Google One subscription or Google Cloud Work account. However, Google has said that with the user's consent, the contents of the card can be stored in a preview that "meets RBI standards and retains sensitive data."

What to do with the map in your Google account

Google has said that after December 31, 2021, you will need to reapply less than before the end of 2021 if you want to use the same Visa or MasterCard to make debit or credit card payments. At least one purchase or payment is required.

“If you don't, the card will not appear in your account and you will have to re-enter the card information,” the company said.

Meanwhile, for Rupay, American Express, Discover and Diners card users, "According to the new Network Card Storage Overview, we will not store card information after December 31, 2021. No. January 1, 2022 , you must provide your card details for each payment. 

Tokenization consists of modifying the content of the real card with the selected number called "token", which is modified for the connection of the card, the token requester and the device. It reduces fraud by sharing card details such as card number and CVV. Tokens are used for debit cards, quick responses, and payment numbers in the contactless mode of point-of-sale terminals.

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