Apple has reportedly reinstated credit and debit card payments for App Store and iCloud transactions in India after almost five years, following adherence to the Reserve Bank of India’s (RBI) card tokenisation regulations.
As per reports, the company is currently pilot-testing this feature with a limited group of users, and is anticipated to extend the availability to all users in the coming months.
In 2021, Apple had halted card payments for App Store and iCloud purchases in India after the RBI implemented its card tokenisation framework. Consequently, users have primarily depended on UPI and net banking for payments regarding Apple’s digital offerings.
According to reports, the technology giant from Cupertino has now reinstated card payments after fulfilling the RBI’s tokenisation requirements. The regulator’s guidelines stipulate that only authorized card networks can keep tokenised card data, which must also be stored locally in India.
This development occurs as Apple continues to engage with banks to introduce Apple Pay in India. Reports indicate that the company is also partnering with card networks to satisfy the RBI’s tokenisation and data localisation stipulations, facilitating the return of card-based payments for its services.
Also Read: Apple stops accepting card payments from Indian users on App Store
In another development, Bloomberg reported that Apple Inc. is in talks to acquire chips from two Chinese semiconductor producers on a Pentagon blacklist to mitigate the impact of a global memory shortage that has compelled the company to increase prices across its product range.
