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\n\t\t\t\t\t\t\t\t\t\tThe move fits into Apple\u2019s larger India push, spanning retail expansion, local manufacturing and digital payments growth.
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Apple Inc. is in discussions with key Indian banks and global card networks in preparation to start Apple Pay in the world\u2019s most populous country.<\/p>\n
The iPhone maker is in talks with ICICI Bank, HDFC Bank and Axis Bank, as it aims to introduce its payment service in India around the middle of 2026, according to people with knowledge of the matter. The timeline remains fluid, but the talks indicate an approaching launch.<\/p>\n
Visa, Mastercard Talks<\/p>\n
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. Apple declined to comment, while representatives of the banks and payment networks didn\u2019t immediately respond to requests for comment.<\/p>\n
UPI Integration Likely<\/p>\n
The planned launch marks another step in Apple\u2019s push to expand in the country of 1.4 billion people with a rapidly expanding middle class. While its market share is still small in a region dominated by less expensive Android devices, Apple\u2019s increased manufacturing and retail presence in India has helped it make inroads.<\/p>\n
Apple Pay in India is expected to support India\u2019s 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\u2019s digital payments space.<\/p>\n
The National Payments Corporation of India, which operates and manages UPI, didn\u2019t respond to request for comment. The Times of India earlier reported the India plans for Apple Pay.<\/p>\n
Crowded Payments Arena<\/p>\n
Rival Alphabet Inc.\u2019s Google Pay, Walmart Inc.-controlled PhonePe and Amazon.com Inc. are among the global players already operating digital payments platforms in India alongside homegrown players like Paytm.<\/p>\n
India\u2019s 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.<\/p>\n
Apple Pay relies on Face ID or Touch ID to approve payments in-person via tap-to-pay, on websites and through apps.<\/p>\n
India Growth Story<\/p>\n
With more than 750 million smartphone users on cheap mobile data and a state-backed push, India is one of the world\u2019s fastest-growing digital payments markets, serving as a potential gateway for Apple to grow services revenue in the region. The company is known to take a cut of Apple Pay transactions.<\/p>\n
Given the prevalence of mobile payments in the region, an Apple Pay launch could boost demand for its hardware. The feature is built into Apple Watches, iPhones, iPads and Macs. Apple has steadily increased its market share to about 10% of India\u2019s smartphone sales, leaving it significant room for further growth.<\/p>\n
Apple is also using India as a key production base to export iPhones to the US, diversifying its manufacturing footprint away from China. The move has helped shield customers in its home market from price markups due to President Donald Trump\u2019s tariffs on China.<\/p>\n
At the same time, it\u2019s rapidly expanding its retail presence in India. It opened its sixth store, a location in Mumbai, this week. Apple Chief Executive Officer Tim Cook has frequently said that India sales are growing quickly, making the market a key lever for its overall growth.<\/p>\n