01 Sep 2021: Netflix introduces UPI AutoPay feature to make subscription renewal easier
Streaming giant Netflix has begun rolling out support for UPI AutoPay payments in India. This will ease recurring payment of fees like the monthly subscription to Netflix, all using just your UPI ID. The feature will be available to both new users and old subscribers. Meanwhile, the options of paying by supported credit and debit cards will continue to exist. Here are more details.
Fact: These are the already available options:
Before this, you could pay to renew your Netflix subscription using a variety of Visa, MasterCard, American Express, and Diners Club cards. You could also subscribe to the streaming giant's service via a partner such as Airtel, Jio, and Vi.
Convenience: New feature will definitely amp up the convenience factor
With the new feature, you won't need to worry about manually paying for your Netflix subscription every month. AutoPay would use your UPI ID (YourName/PhoneNumber@UPIProvider'sName) to renew subscriptions automatically. For starters, the feature will be available on Netflix's India website and Android app. If you are an existing subscriber, you can opt-in for AutoPay by navigating to Accounts > Billing Details > UPI AutoPay.
Statement: Feature will give members freedom, control: Netflix India payments head
Notably, in a statement, Netflix India's payments head Gunjan Pradhan said, "Our goal is to give members more freedom and control over their Netflix experience—to watch their favorite stories whenever they want, all without ads." Pradhan asserted that by adding UPI AutoPay to the existing payment options and integrations with Airtel, Vi, and Jio, Netflix members would have more flexibility.
Too soon?: Netflix's new feature could need tweaking after RBI issues guidelines
However, Netflix might be getting ahead of itself with this feature because, from October 1, the Reserve Bank of India (RBI) is poised to impose fresh regulations pertaining to recurring transactions and storing of bank card details. Netflix made no mention of these impending RBI guidelines (issued under Section 10 (2), Section 18 of Payment and Settlement Systems Act, 2007) in its aforementioned statement.
The news article, Netflix introduces UPI AutoPay feature to make subscription renewal easier appeared first on NewsBytes.
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