Apple reports "all-time revenue record" from India

Apple reported their quarterly results for Q4’22 yesterday and the folks at Six Colors have published their transcript of the call that Tim Cook and Luca Maestri have with analysts.

During the call, Apple mentioned that the company saw double-digit grown in India and iPhone growth was “impressive”.

iPhone Revenue grew 10% year over year to a September quarter record of 42.6 billion despite significant foreign exchange headwinds. We set September quarter records in the vast majority of markets we track, and our performance was particularly impressive in several large emerging markets with India setting a new all-time revenue record and Thailand, Vietnam, Indonesia, and Mexico more than doubling year over year. Thanks to our strong iPhone lineup, we set a quarterly record for upgraders and grew switchers double digits. This level of sales performance, along with unmatched customer loyalty, drove the active installed base of iPhones to a new all time high across all geographic segments.

(Emphasis mine.)

No surprises here. The iPhone continues to get more expensive in India, yet more people continue to buy it every year.

October 28, 2022 ✚ Permalink

MediaNama: How Recurring Payments are Finally Working in India

MediaNama’s Shashidhar KJ published an article earlier today on the site titled, “How recurring payments are finally working in India”. You’d think the article would shed some light on how this was being made possible, but instead, we only get this:

While performing a recurring billing transaction, the customer has to give a consent before making the payment that they authorize the merchant to charge the card as per the subscription plan. The first transaction that is processed folllows two-factor authentication. The 1st transactions is processed with a 2FA

That’s right, the last two sentences mean the same thing.

Moving on, we get this:

CCAvenue will not store the 3D secure password for future recurring payments, and for subsequent payments, the merchant (Business Standard in this case) will send a request to CCAvenue, which will pass the request to the bank in a batch or API, for processing in the back-end.

followed by:

These payments are processed through standing instructions left with the bank. We were unable to find an RBI circular clarifying this.We have written to CCAvenue and the RBI to clarify this and will update once we hear from them.

So how are recurring payments finally working in India?

— They are processed without 2FA, except for the first one (DUH!)
— The bank processes the transactions after a request from the merchant via the payment gateway. (DUH!)
— MediaNama couldn’t find an RBI circular clarifying this.

OK then…

October 11, 2016 ✚ Permalink