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iTunes App Store Begins Accepting RMB Payment, 11/18/11

Apple's iTunes App Store China changed its Terms of Service early Friday morning to begin accepting RMB payments for application purchases. Purchases had previously been restricted to Apple ID holders who had tied their iTunes accounts to a USD credit card for payments in USD.

The ability to accept RMB payments could go a long way towards resolving Apple's problems with invalid credit card numbers in China. In mid-October, many Chinese developers receiving their September payment checks from Apple found that the percentage of "bad orders," which had previously been 20% or lower, grew to 45%, or in some cases as high as 80% -- meaning that developers received less in payments than they were owed. The problem was caused by users registering for the App Store China with invalid credit cards or cards that had been frozen by the issuing banks - preventing banks from paying Apple, and Apple from paying developers.

Keywords: third-party payment wireless app store Apple credit card


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