Apple shelves plan to launch UPI-based payments service amid unclear regulations

Apple shelves plan to launch UPI-based p...


The main bone of contention seems to be the Reserve Bank of India’s recent data localisation rule.
 

If you have been hoping to use Apple Pay in India, you may be in for some disappointment since the US tech giant has decided to put on hold its plans to launch its digital payments facility.
According to a report in Economic Times, the major reason for this is the strict regulations that the Indian government and the Reserve Bank of India have imposed, particularly with regard having servers within the country for holding the data collected.
It is not as if Apple alone is facing this issue. Amazon and WhatsApp have been facing similar issues and haven’t been able to formalize their payments channels though they have made every other arrangement, including the tie-ups with the banks. In the case of WhatsApp, there is an additional issue with regard to the 2-factor authentication.
Apple is also having to deal with a similar issue since it wants it fingerprint identification to be accepted as an authentication method instead of the OTP or other 4/6digit authentication. Apple has probably decided to wait for more time in the hope that the regulatory authorities will ultimately relent and accept the relaxations.
Interestingly all three proposed payments channels have the UPI platform of NPCI as their base. And besides the three, other existing players like Mastercard, Visa and PayPal are also confronted with the same localization of server issue.
Google, which has recently renamed its payments app as Google Pay from Tez, is one company that may comply hosting a server in India to store the data, but the company is yet to take any concrete steps in this direction. They appear to be watching and waiting as well.
Apple Pay is already active in many countries across the globe; Australia, Canada, Mainland China, France, Hong Kong, Ireland, Italy, Japan, New Zealand, Russia, Singapore, Spain, Switzerland, the UK, the company is yet to take any concrete steps in this direction. They appear to be watching and waiting as well.Issues with launch of Apple Pay is just one of the latest in a series of setbacks the company has had to encounter in India. It has had a dismal show in terms of sales of its iPhones; it has been having an ongoing feud with the government on relaxing the import duties on the components it brings in to build the iPhones in India and several top-level executives have resigned and left in the past few weeks.
These companies are trying to remind the government of its objectives under Digital India and how these regulations are discouraging more players coming in and making the digital payments sector grow to the potential in the country.


PostedOn: 07 Sep 2018 Total Views: 232




Google, Facebook and others are blocking...

Google, Facebook and others are blocking keywords ...

Search engine Google, Microsoft, Facebook and Yahoo have begun blocking keyword pertaining to child pornography and violence against minors on their respective platforms in India. These companies are taking this step to prevent the spread of such kind of videos on social media. As per reports, the d...

23 Dec 2018

Huawei launches Mate 20 Pro with triple ...

Huawei launches Mate 20 Pro with triple rear camer...

The smartphone packs a 4,200mAh battery, with SuperCharge support. Huawei has brought to the Indian market its latest high-end smartphone, Huawei Mate Pro 20, priced in the Rs 70,000 range with a 6.39inch QHD+ display that has a screen resolution of 1440x3120pixels and an aspect ratio of 19.5:9. It ...

28 Nov 2018

WhatsApp chief business officer Neeraj A...

WhatsApp chief business officer Neeraj Arora quits

WhatsApp Neeraj Arora quits WhatsApp’s chief business officer Neeraj Arora on Tuesday resigned the company. He announced the news on his Twitter and Facebook handle. In a post at social media sites including Twitter and Facebook, he said, “Time flies for sure but not memories. It is hard...

28 Nov 2018

Google's New Search Feature Gives Single...

Google's New Search Feature Gives Single Result to...

Google is rolling out a new feature to the Search app on mobile web, Android and iOS that would not show multiple links to a query if it could be answered by a direct result for faster search experience. “For queries where we have extremely high confidence that a user is seeking a calculation,...

27 Nov 2018

Google Family Link App in India: Here’s ...

Google Family Link App in India: Here’s how parent...

Tech giant Google recently launched the Family Link App in India. The app is designed to help parents remotely control and keep track of their children’s Android device activities and help them set digital ground rules by managing what their kids are up to and what are the other Google account...

27 Nov 2018

Honor 8X review: Premium looks, good bat...

Honor 8X review: Premium looks, good battery, but ...

Huawei's sub-brand Honor has been following an aggressive strategy for the price-conscious Indian market, offering good specifications and internals at a relatively affordable price. Its latest offering, the Honor 8X, comes in three variants -- 4GB+64GB, 6GB+64GB and 6GB+128GB -- priced Rs 14,999, R...

26 Nov 2018

NASA’s InSight spacecraft all set to lan...

NASA’s InSight spacecraft all set to land on Mars

NASA’s Mars Interior Exploration using Seismic Investigations, Geodesy and Heat Transport (InSight) spacecraft is all set to land on Mars on November 26. The InSight spacecraft is a first outer space robotic explorer that will study the crust, mantle, and core of the fourth planet in our solar...

26 Nov 2018

WhatsApp appoints Abhijit Bose as countr...

WhatsApp appoints Abhijit Bose as country head

Facebook-owned company WhatsApp has finally declared Abhijit Bose as the head of WhatsApp India. The company has earlier announced that it is hiring country head. As per reports, Abhijit Bose will work to establish the messaging service WhatsApp in India, likely to begin its operations next year. It...

21 Nov 2018