After demonetisation, the number of online payment people in India has seen a huge increase. The digital revolution has changed our traditional system of transactions. Earlier, there was a lot of waste of people’s time for giving small lanes.
Since the advent of digital payment system, now the same work is done in few seconds. However, RBI keeps on bringing many changes from time to time regarding digital transactions happening in India, so that our system of transactions can be made safe and easy. In this episode, on the guidelines of Reserve Bank of India, Google Pay is going to change its rules from January 1, 2022. This change will have a direct impact on the users of Google Pay. This new rule of Google Pay will also be applicable on Google Ad, Google Play Store, YouTube etc. In this episode, let’s know about the rule that Google is going to change.
According to this upcoming rule, Google Pay will not save the data of card details of its customers from January 1, 2022. Earlier, Google Pay used to save your card information like expiry date, card number etc. in its servers.
After the introduction of this rule, Google Pay customers will have to pay by re-entering their card details while making the payment. On the guidelines of RBI, this change has been made in the rules of Google Pay manual online payment.
This change will reduce the risk of leaking of sensitive information. In such a situation, there will also be a decrease in the incidents of increasing cyber fraud. After this change, people who use MasterCard will have to authorize them to save their card details in a new format. You will be able to make a one-time manual payment by entering your card details. You will have to re-enter your card details to make the payment again. These new rules will come into effect from January 1, 2022.
