Apple Pay Set to Launch in India by October
Apple is reportedly preparing to launch its Apple Pay digital wallet service in India by October, marking the company’s entry into the country’s premium credit card payments market.
According to people familiar with the matter, the service is expected to initially support credit cards issued on international payment networks such as Visa and Mastercard, in line with Apple Pay’s operations in several other markets.
However, UPI is unlikely to be part of the initial rollout. Supporting UPI payments would require Apple to obtain approval from the National Payments Corporation of India (NPCI) and partner with a sponsor bank to facilitate transaction routing.
Apple is also in discussions with Indian banks over the transaction fees it plans to charge. The outcome of these negotiations could influence the pace and scale of Apple Pay’s adoption in the Indian market.
The launch would give Apple access to India’s rapidly growing digital payments ecosystem while potentially creating a new transaction-based revenue stream for the company.
