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Apple adds UPI autopay for subscription-based payments in India

Apple has updated its App Store to include the UPI autopay as a new payment method for subscription-based transactions in India. With the help of UPI autopay, users can set up automated payment methods for regular payments using any UPI app that supports the feature.

According to a report by Inc42, the news was made public when Apple emailed its Indian customers to inform them about the function.

According to the email seen by the publication, the email says, “With UPI AutoPay, you can now pay for new streaming services, games, music, movies, and more. It’s simple, secure, and easy to set up.”

The latest move comes almost a year after Apple provided UPI and net banking as payment alternatives for Indian users on its App Store. This happened immediately after the Cupertino-based corporation stopped taking Indian debit and credit cards for payments linked to app purchases and subscriptions on the Apple App Store.

What Led To The Shift To UPI Autopay?
The National Payments Corporation of India introduced UPI Autopay in 2020 to facilitate payments for regular expenses including EMIs, cellphone bills, OTT subscriptions, energy bills, and others. The Reserve Bank of India has issued a number of guidelines over the past four years in an effort to impose restrictions on recurring payments made without the users’ consent and to ensure the security and safety of card transactions. These guidelines played a significant role in the shift to UPI autopay.

The implementation of UPI autopay gained momentum after the RBI announced new regulations for storing card information, which eventually took effect on October 1, 2022. According to the rules, the actual card information will only be accessible to the card network, the bank issuing the card, and the end user under the new regulations. As a result, businesses, payment gateways, and acquiring banks are required to use tokenised data and are not permitted to hold the card information.

The UPI autopay seems to have arrived at a good moment for Apple, which already does not accept debit cards for subscription services. The service will make it possible for the business to scale and simply offer its subscription services through UPI-linked accounts.

The decision was made at a time when Apple is seeing tremendous growth in India. CEO Tim Cook stated on the company’s earnings call in February 2023 that places like India performed remarkably well despite significant obstacles and a difficult macroeconomic environment. Bloomberg

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