Apple’s plans to introduce its UPI-based payments platform ‘Apple Pay’ seem to have hit a brick wall. According to a report in The Economic Times, the reason for this is that the Reserve Bank of India’s (RBI) recently laid out rules which make it mandatory for any company, who wishes to introduce payment service in India, to save all the related data on local servers in the country. Citing people with the knowledge of the matter, the national daily reported that apart from Apple and Facebook, Amazon has also stalled the full rollout of its service, Amazon Pay. Google, which recently renamed its UPI-based service ‘Tez’ to ‘Google Pay’, is also reported to be “assessing the evolving situation around data localisation.” With the rules in place, other players like Facebook, Mastercard, Visa, and PayPal are also uncertain of going ahead with their plans. “Apple put the brakes on introducing Apple Pay in the country despite holding discussions with a few leading banks and the National Payme
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