On September 30th, 2021, Sony Interactive Entertainment (SIE) notified its customers that it has cancelled its billing agreement, which may affect their ability to purchase content on the PlayStation Store. This move has caused quite a stir in the gaming community, with many questioning the reasons behind this decision.
Before we delve into the possible reasons for the cancellation, let`s first understand what a billing agreement is. When a user makes a purchase on the PlayStation Store, they have the option to save their billing information to their account. This creates a billing agreement, which allows them to make future purchases without having to enter their payment information each time. It`s a convenient feature that many users appreciate.
However, SIE has now cancelled these billing agreements, meaning that users will have to enter their payment information every time they make a purchase from the PlayStation Store. This has understandably caused frustration and inconvenience for many users.
So, why did SIE make this decision? While they haven`t given an official reason, many speculate that it`s due to security concerns. By cancelling billing agreements, SIE is forcing users to enter their payment information every time they make a purchase, which adds an extra layer of security. This makes it harder for hackers to access users` payment information, which has become a major concern in the gaming industry in recent years.
Another possible reason is that SIE is trying to comply with new regulations. The European Union`s Payment Services Directive 2 (PSD2) went into effect in 2021, which requires banks to implement stronger security measures for online transactions. By cancelling billing agreements, SIE may be attempting to comply with these new regulations.
Regardless of the reasons behind the decision, many users are left frustrated and inconvenienced. However, it`s important to remember that SIE is taking steps to protect their customers` payment information and comply with regulations. While it may be inconvenient in the short term, this decision could ultimately benefit users in the long run by keeping their payment information more secure.
In conclusion, SIE`s cancellation of billing agreements may be frustrating for users, but it`s a move that could ultimately benefit them in the long run. By prioritizing security and compliance with new regulations, SIE is taking steps to protect their users` payment information and prevent hacking attempts. While it`s always frustrating to have to enter payment information for each purchase, it`s a small inconvenience that could have big benefits.