Well, I'm having this issue now. I'm using MKStoreKit in my in-app purchase. This are my errors:
Failed transaction: <SKPaymentTransaction: 0x136a62e0>
error: Error Domain=SKErrorDomain Code=2 "Cannot connect to iTunes Store" UserInfo=0x13654a90 {NSLocalizedDescription=Cannot connect to iTunes Store}
Any idea?
You may remove that error via cross checking this check list. If your answer is no for any of the points then it may be causing the problem
Most importantly do logout from your current iTunes account in your device before trying to do any purchase.
Make sure you have done all necessary steps for in-App purchase testing.