Never Miss a Payment Again: How to Restart Recurring Payments with Your Debit Card

With the advent of technology, it has become easier to pay bills and subscriptions through recurring payments using debit cards. Recurring payments allow customers to make payments automatically on a regular basis without having to remember to pay manually every time. However, sometimes due to various reasons, recurring payments may be interrupted, and customers may need to restart them. In this blog, we will discuss how to restart recurring payments via debit cards.

Q.1) How recurring payments work?

Recurring payments work by automatically deducting the payment amount from the customer’s debit card on a scheduled date. The customer authorizes the merchant to deduct the payment from their account for a specific period of time, which can be weekly, monthly, or yearly, depending on the subscription. The payment amount and date are agreed upon by the customer and merchant at the time of subscription. Once the payment is authorized, it will continue until the end of the subscription period, or until the customer cancels the payment.

Q.2) Will you receive a notification every month?

Yes, customers will receive a notification every month before the payment is deducted from their account. The notification can be in the form of an email, text message, or app notification, depending on the merchant’s preference. The notification will include the payment amount, date, and any other relevant information about the subscription.

Q.3) What if the payment is over Rs 5,000?

According to the new norms set by the Reserve Bank of India (RBI), any recurring payment above Rs 5,000 will require an additional factor of authentication. This means that the customer will have to enter a One-Time Password (OTP) or use their biometric authentication to confirm the payment. This is done to ensure the security of the transaction and prevent any unauthorized access to the customer’s account.

Q.4) What if merchants don’t enable their systems to the new norms?

If merchants don’t enable their systems to the new norms set by the RBI, then customers may face difficulties in making recurring payments above Rs 5,000. In such cases, customers can either choose to pay through other payment methods or contact the merchant to enable the required authentication method.

Q.5) How do I activate a recurring payment on my debit card?

To activate a recurring payment on your debit card, follow these simple steps:

Step 1: Contact the merchant and subscribe to the service or subscription.

Step 2: Provide your debit card details to the merchant for payment authorization.

Step 3: Set the payment frequency and amount as per your preference.

Step 4: Agree to the terms and conditions of the subscription.

Step 5: Verify the payment details and authorize the payment.

Once the payment is authorized, it will be deducted from your account automatically on the scheduled date.

Q.6) How do I set up monthly recurring payments?

To set up monthly recurring payments on your debit card, follow these steps:

Step 1: Log in to your online banking account.

Step 2: Go to the bill payment section and select the option for recurring payments.

Step 3: Add the merchant or biller details and select the payment frequency as monthly.

Step 4: Enter the payment amount and select the payment date.

Step 5: Verify the payment details and authorize the payment.

Once the payment is authorized, it will be deducted from your account automatically on the scheduled date every month.

Conclusion

Recurring payments are a convenient way to make payments without having to remember to pay manually every time. However, sometimes payments may be interrupted, and customers may need to restart them. By following the steps mentioned in this blog, customers can easily restart their recurring payments using their debit cards. It is important to ensure the security of the transaction and follow the new norms set by the RBI