Apple is preparing to launch Apple Pay in India next month, initially supporting credit cards issued by Axis Bank, according to three sources familiar with the discussions.
The planned rollout would give Apple a foothold in one of the world’s largest digital payments markets, where its payment service is currently unavailable. Apple is also in talks with HDFC Bank and ICICI Bank, although commercial agreements with the two lenders have yet to be finalized.
Apple Pay allows iPhone users to make contactless payments using tokenised card details stored on their devices, authenticated through Face ID or Touch ID. The company plans to expand support to additional Indian banks through separate agreements, following a phased approach.
Apple will enter a highly competitive payments market dominated by India’s Unified Payments Interface (UPI), which accounts for about 84% of digital payment volumes. The launch comes as Apple’s share of India’s smartphone market has doubled to 8% since 2022, according to Counterpoint Research.
India’s regulatory changes have also helped clear a path for Apple Pay. The Reserve Bank of India last year allowed biometric authentication for card payments, enabling services such as Apple Pay to work with Indian bank cards through Face ID and Touch ID.
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