Apple is currently in talks with major Indian banks and international card networks to introduce Apple Pay in India, with a potential launch targeted for mid-2026.
The discussions involve ICICI Bank, HDFC Bank, and Axis Bank, along with payment giants Mastercard and Visa.
When rolled out, Apple Pay in India is anticipated to support both traditional card-based payments and the country’s widely used state-backed Unified Payments Interface (UPI).
Sankalp Phartiyal and Anup Roy for Bloomberg News:
Apple is also discussing the plan with payment networks Mastercard Inc. and Visa Inc., said the people, who asked not to be named because the deliberations are private.
The planned launch marks another step in Apple’s push to expand in the country of 1.4 billion people with a rapidly expanding middle class.
Apple Pay in India is expected to support India’s state-backed Unified Payments Interface, or UPI, alongside card based payments. UPI, which allows Indian customers to instantly transfer money and pay bills, dominates India’s digital payments space…
India’s central bank late last year set new rules that allow biometric authentication, such as fingerprint or facial recognition, for digital payments. Indian authentication mechanisms have previously largely relied on one-time passwords sent via text message.
Apple Pay relies on Face ID or Touch ID to approve payments in-person via tap-to-pay, on websites and through apps.
MacDailyNews Take: More juice for Apple’s ever-growing Services business!
The sky’s the limit for Apple in India! – MacDailyNews, August 10, 2022
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