What are recurring Payments instructions for Domestic and Foreign Payment on Debit/Credit card?

Recurring payments/Standing instruction

Recurring payments/standing instructions are the type of transactions where the customer has shared his card credential with merchants to subscribe to the services of the merchant or they have given standing instructions to the merchant to bill their card at a pre-defined frequency.

Important changes that you should be aware of due to RBI guidelines for recurring payments.

1- Customer will receive a pre-debit notification from the bank usually 24 hours before the due date of the payment informing them about the transaction.

2- Customers have to approve/reject the transaction via login into the SI hub. Click on the link below to login into the SBM SI hub.

   SI hub login

How to login into SI hub please click on the link below-

https://support.karboncard.com/support/solutions/articles/81000408234-how-can-i-login-into-si-hub-

     Note- Please create an account to see all the mandates if not already.

3- Customers need to approve transactions greater than 5000. A pre-debit notification will be sent to the customer 24 hours before the date of debit. If the transactions are not approved it may lead to transaction failure, the account not being debited, and discontinuation of services from the merchant.

4- The notification will be sent to the registered email id and mobile number.

What is the SI hub for recurring payments?

SI hub is the platform where customers can view and manage all their e-mandates.

The current issue with Recurring Payments for Domestic and Foreign Payment:
 

At the moment a lot of foreign merchant transactions are failing due to "non-compliance to recent mandates from RBI by the payment gateways".

Payment gateways and lenders must comply with these RBI guidelines for domestic and foreign transactions. 

Please Note: This is not a card issue but a RBI Regulation issue over which neither the bank nor we have control over.

Error Code: Do not Honor - Declined by the bank due to mandate parameters that were not met.

What to do next:  You can try the payment through an alternate card. However, if the merchant keeps passing this as a recurring payment, there are chances it may get declined. In that case, kindly contact the merchant and ask for a one-time (manual) payment link to complete this transaction. 

Alternative: You can also try our solution via our Forex Bank Payment product. We take care of all the necessary compliance processes such as 15CA/CB along with the end transaction execution with simply just your invoice. Please let me know if you would be interested in it and I will connect you with our team who can help you further on this.