Apple promoting wallet-based recurring payments for Indian customers

In a notification to Indian users, Apple has mentioned that card-based payments may be refused by banks and card issuers and has therefore asked the users to add funds to their Apple ID balance that will enable auto-debit for subscriptions until the balance depletes. While banks and other payment gateways are working to comply with the new rules,Apple seems to be promoting Wallet Payments for Subscription based payments in India.

RBI released a framework for e-mandate- based recurring transactions in Aug'19. According to which, an issuer should send a transaction notification to a cardholder at least 24 hours prior to the occurrence of the actual charge/ debit so as to avoid risk. As per the new rules, the cardholder may opt-out of that transaction after receiving the pre-transaction notification. An AFA validation is also needed for transactions exceeding INR 5,000.

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