From the last few months, Apple has taken plans to currently launch their Unified Payment platform named in India. According to the Silicon Valley, the giant brand Apple decided to introduce the “Apple Pay” payment gateway here. However, they have already put themselves in the same zone where WhatsApp and Amazon also rollout their same payment products and reject to launch now. The leading brand Apple already makes the discussions with some of leading national Banks and National Payment Corporation of India who manages the platform of UPI regarding this matter.
In India, Apple users are really waiting from a long time such that they can make the payment more easily. As Apple Company put the brake in launching this product, it will really push the mind of the users in all aspects. Currently the whole payment system in India is going to be cashless. Depending on that, many Payment gateways are current running in India with good services. Still if Apple launches this product which is already rollout by the Amazon and WhatsApp then it will become more helpful for many consumers.
Reasons behind this ‘Stop Payment’ by Apple:
Apple said that the main reason behind taking a break in launching Payment Gateway is the rule of recent data localisation by Reserve Bank of India. The Company also said that currently they are facing the technical and design based issues to the flow of payment through UPI. So yet, Apple will not launch the Payment system Apple Pay in India. They will wait until everything will get OK and the regulatory landscape needs to be shape up properly.
On the other hand, it is more important to get proper data localisation rule from RBI for storing all the Payment related data with in India. It also includes the plans of other MNC like the PayPal, Visa, MasterCard, etc. Even Google also said that it is better to wait and check for the plans for the Payment system linked to UPI and evaluate the situation in terms of data localisation.
Apple Vice President’s Words:
Last year in an interview, Apple’s Senior Vice-President Eddy Cue says, “It is great that all of these payment mechanisms are coming out in India because it empowers people to be able to pay. What Apple Pay does is make that process easy, integrated and safe. We absolutely want to bring Apple Pay to the market here”. But according to the current news, there is no specific time that when the Apple Pay in India will get launch due to some major and important issues related to payment discuss earlier.
Currently, Apple Pay is available in the places like Taiwan, US, UK, Switzerland, Spain, Singapore, Russia, New Zealand, Japan, Italy, Ireland, Hong Kong, France, Mainland China, Canada and Australia.
Finally, according to bank, Apple wants to add the Fingerprint mode of Authentication in their UPI Payment which is not accepted by the national Payment Corporation of India. According to then UPI, customers need to enter 4 digit or 6 digit number for authentication purpose during payment. A banker said, “National Payment Corporation of India has prescribed that transactions can be authenticated by biometrics only when they get validated by UIDAI”. “National Payment Corporation of India does not allow biometrics collected by devices as a mode of authentication.” When all these issues are sort out completely, the Apple Pay will launch in the market of India successfully. However, Apple needs to make some discussion through which the thing will get mutually correct and the payment system will become more secure and efficient for the customers. For the same data localisation rule reason, the Amazon’s and WhatsApp payment also get stucked in the middle.
