Do you save your debit card, credit card details on payment making apps? If yes, then here is an important update for you. The Reserve Bank of India (RBI) has issued “Guidelines on Regulation of Payment Aggregators and Payment Gateways”, according to which the authorised non-bank payment aggregators and merchants have been prohibited from storing card data (CoF) and this must be done before the deadline- June 30, 2022. Giving insights on the same Google Pay on its support page has said that with your authorization, Google will save your card details in a format that complies with RBI regulations and keeps your sensitive card details secure.
"Due to Reserve Bank of India (RBI) card storage regulations, starting July 1, 2022, Google can no longer save customer card details (card number, expiry date, etc.) in the current format. However, with your authorization, we’ll save your card details in a format that complies with RBI regulations and keeps your sensitive card details secure," Google Pay said.
As per the information provided by the application, if you use Visa or Mastercard then to authorize Google Pay to save your card in the new format, you need to make a single manual payment with your current card details. To avoid entering your card details again later, complete the payment before June 30, 2022.
If you use RuPay, American Express, Discover, or Diners Card then Google will not store your card information after June 30, 2022, as card storage, as per the new format, is not supported for these card networks yet. Starting July 1, 2022, the support for these cards will change across Google services.
It can be noted that if your card is removed, to make a manual payment from July 1, 2022 onwards, you’ll have to re-enter the card information. Also if you want to remove your card details from Google then he is what you need to do:
1. Sign in to your Google Ads account.
2. Click Tools and then under “Billing,” click Summary.
3. Click Payment methods and then Remove.
To remove your card, check Remove a payment method.
1. Workspace admins need to access payments from the admin console.
2. To remove your card, check Remove a payment method.
1. Sign in to Google payments center.
2. Click Add a payment method and then Remove.
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