Namecheap issues security payment update for credit cards issued by Indian banks

Namecheap is currently experiencing problems with processing recurring payments from credit cards issued by banks in India. This is due to the banks implementing new Reserve Bank of India (RBI) directives on such payments.

Namecheap security payment update

Why has this happened? Banks across India are in the process of implementing new rules and systems to comply with the Reserve Bank of India’s (RBI) directive on the processing of recurring transactions. This is causing higher payment failure rates.

What can you do? Feel free to try a different payment method or re-save the credit card in your account.

You can also make use of bitcoin and other cryptocurrencies to add spendable balance on Namecheap which will allow you to checkout easily and faster. One drawback of paying with cryptocurrencies on namecheap are tax implications since there are no concrete laws on bitcoin and cryptocurrencies in India.

You can also use netbanking but that too has high failure rate. I too was sent an email by PayPal stating that reoccurring payments are no longer available for people living in India. RBI has prohibited reoccurring payments as well, which sucks for someone like me who pays to servers using credit on via paypal on monthly basis.