Apple discontinues card payments for services in India, favours UPI, net banking

By Team Newsable | First Published May 23, 2022, 5:53 PM IST

Apple confirmed that the subscriptions would continue as long as users have sufficient balance.

To comply with the Reserve Bank of India's guidelines on card storage and tokenisation, Apple has discontinued taking debit and credit card payments for app purchases and subscriptions in India. Instead, the company stated that in-app purchases would be limited to Unified Payments Interface (UPI) and net banking transactions.

"Starting June 1, credit and debit cards will no longer be accepted for purchases or subscriptions on the App Store or other Apple services," the company informed the user, citing future Reserve Bank of India regulations. It will no longer store credit card information from Indian customers on its servers.

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Users can now load a pre-determined amount into their Apple Wallet via UPI and net banking, ensuring that app subscriptions and purchases are completed without interruption.

Apple confirmed that the subscriptions would continue as long as users have sufficient balance.

In March 2020, the RBI barred payment aggregators and gateways from storing customer card credentials in their database. The central bank had set a deadline of June 30, 2021, for players to comply. However, after hearing from several industry stakeholders, the company extended this deadline six months to December 31, 2021, and subsequently pushed it to June 30, 2022.

Several payment apps, including Paytm, Razorpay, and PhonePe, have released tokenisation solutions in the recent year to help merchants avoid any disruption to customers during checkouts.

Learn to add money to your Apple ID?
1) Visit the Apple App Store on iPhone, iPad or Mac of yours.
2) Now, tap on your device at the top-right corner of the screen.
3) Click on the "Add money to account." Select the amount to add to your account and verify the instructions for your payment points, and you are on.

Users must add a sufficient amount to deduct it automatically when the app purchase or subscription is due for renewal.

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