Automatic deductions from account without OTP
Earlier, some big players like Netflix used to force customers to save their card details and they used to deduct monthly charges automatically without one even knowing it. Ofcourse one can deny that but then one can't use their services. And if one wants to use their services for a month, he has to call them and tell request them to remove his card details before completion of the month. Otherwise, the amount will be automatically deducted. Another problem is that if somebody is not very particular and forgets, they shall keep deducting the amount even if he is not using it. My friend had lost his father who was using Netflix. His mother wasn't tech savy and had no idea. His son realised after a few months, when he got reminder from credit card staff and had to pay for these months.
Now that RBI came out these laws, one became hopeful but it seems that they have found some way out. They ask the customers to give them a one time approval for thereafter repeated deductions so that they can revert to old procedure. I have discontinued Netflix as a protest and have given them the feedback.
Similarly, Amazon Audibles charges monthly fees to be member of their audibles, and then charges for buying audible version of each book. And they too exploit by forcing subscription and automatic deductions from credit card account. I wanted to buy their audible books since my eyesight is getting affected by reading. But again this unethical practice of forcing one to pay automatically wasn't acceptable.
Can the local circles give this feedback and request RBI to endure that these big mncs don't force one to opt for automatic deductions? If one wants automatic deductions based subscription, fine. But for others, their must be an option to opt for OTP based monthly charges. more
To that extent, automation helps but such forced automation as brought out in the above post and that too with ill intent is not desirable. Its not small issue as this systemised loot that should not be permitted by govt. more