Apple Pay Launches In India For First Time
More than 80 per cent of India's digital payments are handled through the homegrown United Payments Interface (UPI).
Recommended For YouThe UPI is the largest real-time payment system in the world by volume, according to the IMF, while apps from Walmart-owned PhonePe, Alphabet's Google Pay and local rival Paytm dominate in India.
The launch of Apple Pay comes through a partnership with Axis Bank, India's third-largest private lender.
Axis Bank customers can store their credit cards on Apple Wallet and then use their iPhones or Apple watches to make payments at "thousands of in-store and online merchants across India", the US firm said in a news release.
Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said the company was excited to bring its service to users in India, "home to a dynamic and digitally savvy population that continues to embrace a cashless future".
While the vast majority of Indian customers prefer cheaper Android smartphones, a growing number of affluent consumers are snapping up iPhones.
Apple shipped more than 14 million units in 2025, according to TechCrunch publication.
The US tech giant has also sought in recent years to make India a key manufacturing and export hub for its products, as it seeks to reduce its dependence on China.
India accounts for roughly 25 per cent of global iPhone output, according to local reports.
Apple Pay's rollout also comes as India's government allows banks and payment apps to charge merchants a small fee on larger UPI transactions after six years of free use.
The government says the move, announced this month, is necessary to sustain the digital infrastructure but critics say it may slow down usage, with merchants passing on the cost to customers.
ALSO READ- UAE among countries linked to India's UPI and RuPay network as digital payments expand globally Big to get bigger: India's UPI fee shift to entrench dominant incumbents India's PhonePe eyes UAE launch after securing initial Central Bank approval
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment