Apple recently stopped accepting credit and debit card payments for subscriptions and app purchases through Apple ID in India. Apple users will now need to update their payment methods to continue recurring payments.
The company recently said that if consumers want to continue to enjoy their subscriptions, they will need to add funds to the balance of Apple ID.
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“To continue enjoying your subscriptions, you can pay with your Apple ID balance. You can add to your Apple ID balance using App Store Codes, Net Banking and UPI, ”he added.
Apple also said that users can also add funds automatically to the balance of Apple ID by setting up Auto Reload, the company said.
Why has Apple stopped debit and credit card payments in India?
The news follows a statement from the Reserve Bank of India (RBI) last year on the two directives – one on automatic debiting mandates and the other on card tokenisation.
“India’s regulatory requirements apply to the processing of recurring transactions. If you have an Indian debit or credit card and have a subscription, these changes affect your transactions. “Some transactions may be rejected by banks and card issuers,” the company said in a blog post.
According to media reports, users now have to approve recurring transactions as subscriptions using “Additional Authentication Factors (AFA)” as a result of the new rules. The transaction will be rejected if it is not approved by AFA.
The new rules also state that Apple must create an electronic mandate for client cards, reports 9To5Mac.
Apple customers in India will need to use two-factor authentication and set up a new electronic mandate when issuing recurring payments. They will also have to give consent for any purchase over 5000 Rs.
In an email to consumers, Apple said: “Due to RBI regulations, Apple Search Ads will soon no longer accept credit card payments issued by banks in India. The company also said that all campaigns using a credit card issued by Indian banks will be suspended from June 1.
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In another move, which will take effect on July 1, any company that stores user card data on its websites or applications will have to clear that data.
Millions of users could be affected if online players and merchants are unable to implement the changes in their backend.
(Contributed by the Agency)