Why Did Apple Remove Card Payments in India? Understanding RBI Regulations
Discover why Apple paused card payments in India due to RBI regulations. Find out more about the upcoming secure payment solutions.
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Apple removed card payment options in India due to new regulations by Reserve Bank of India (RBI). These regulations require card data to be tokenized, meaning sensitive information must be replaced with a unique identification code. To comply with these strict guidelines, Apple has temporarily halted card payments until a secure solution is in place.
FAQs & Answers
- What is tokenization in card payments? Tokenization is the process of replacing sensitive card data with a unique identification code to enhance security.
- How do RBI regulations affect digital payments? RBI regulations ensure that digital payment solutions adhere to strict security standards, protecting consumer data.
- When will Apple resume card payments in India? Apple plans to resume card payments once a secure tokenization solution is fully implemented in compliance with RBI regulations.
- What other payment options does Apple offer in India? Apple currently provides alternatives like UPI and Apple Pay, which comply with local regulations.