Apple has reportedly prepared to launch Apple Pay in India next month through a partnership with Axis Bank.
According to Reuters, the service is expected to launch with Axis Bank's credit cards, marking Apple's entry into one of the few major economies where Apple Pay has not previously been available. Three sources told Reuters that the rollout would begin with a single major banking partner before expanding to other lenders over time.
Talks with larger banks still ongoing
Apple Pay has reportedly held discussions with two of Axis Bank's larger private-sector rivals, HDFC Bank and ICICI Bank, though commercial terms with these institutions have not yet been finalised, according to two of the sources. All three sources spoke on condition of anonymity because the discussions are private. Apple and HDFC Bank did not respond to requests for comment from Reuters, while ICICI Bank and Axis Bank declined to comment.
Furthermore, Apple intends to add banking partners incrementally through individual, bank-by-bank agreements, a pattern that mirrors how the company has introduced Apple Pay in other markets. Apple Pay enables iPhone users to make contactless payments using tokenised card details stored on their devices, without needing to open a separate payment application. The service relies on Face ID or Touch ID for authentication.
Regulatory groundwork and market context
The Reserve Bank of India last year permitted biometric authentication for card payments, a regulatory change that has enabled Apple's payment service to function with Indian bank cards using facial or fingerprint recognition. Apple's entry would bring the service into a market already dominated by the domestically developed Unified Payments Interface (UPI), which supports transfers via QR codes, phone numbers, and tap-and-pay functionality. UPI currently accounts for 84% of India's digital payments volume, according to figures cited in the report.
Apple's presence in the Indian smartphone market has grown in recent years, with its market share doubling to 8% since 2022, according to Counterpoint Research, making India one of Apple's largest markets globally.
The planned launch would extend Apple Pay's international footprint into a market characterised by high mobile payments adoption and a strong domestic infrastructure, positioning the service alongside UPI-based alternatives rather than as an immediate substitute for them.
