Apple Pay eyes India rollout with Axis Bank, sources say
The service will start with Axis Bank cards and expand bank by bank as Apple seeks to tap India’s premium card market.
- Apple is poised to launch Apple Pay in India next month with credit cards issued by Mumbai-based Axis Bank, three sources familiar with the matter said.
- Last year, the Reserve Bank of India allowed biometric authentication for card payments, enabling Apple's service to use Face ID and Touch ID instead of mandatory SMS codes.
- India's state-backed Unified Payments Interface accounts for about 84% of digital payment volume, yet Apple Pay will not support the system at launch, focusing on Visa and Mastercard credit cards.
- Discussions with larger private sector rivals HDFC Bank and ICICI Bank remain ongoing, though Apple has not yet settled commercial terms. The company plans to add lenders through direct bank-by-bank deals.
- Since 2022, Apple's share of India's smartphone market has doubled to 8%, according to Counterpoint Research, establishing the region as a key market for ecosystem expansion.
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Apple Pay is reportedly heading to India next month with Axis Bank first
Apple Pay is expected to launch in India next month, beginning with credit cards issued by Axis Bank, three people familiar with the plans told Reuters. Apple declined to comment. So, in effect, did everybody else. The service will widen to other lenders through separate bank-by-bank agreements, the pattern Apple has followed in other markets, […] This story continues at The Next Web
HDFC Bank Share Price Live Updates: Apple Pay set for India launch next month with Axis Bank credit cards: Report
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Apple Pay India Launch in Oct With Axis Bank Cards: Report
Apple Pay may be launched in India in Oct with support for Axis Bank credit cards. Deals with HDFC Bank and ICICI Bank are yet to be confirmed but Apple is also in talks with the banks for future cooperation. This would allow customers to make contactless purchases using iPhones and Apple Watches.
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