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Concise summary of key highlights
In one line
Apple Pay is set to launch in India by October, competing in the booming UPI-based digital payments market.
Key points
• India’s UPI dominance
India’s UPI system, launched in 2018, now accounts for over 49% of global real-time payment transactions, with 2,365.84 crore transactions worth Rs 29.88 lakh crore in the last month alone.
• Apple’s market entry
Apple Pay is expected to launch in India by late September or early October, following negotiations with local banks and NPCI approval for UPI-based services.
• Transaction fee dispute
Apple seeks a 0.15-0.20% commission per transaction, while banks insist on a 0.10% cut, leading to ongoing negotiations.
• Regulatory compliance
Apple must comply with RBI and NPCI requirements, including local storage of transaction details, before integrating RuPay and UPI services.
• Incentives for adoption
Apple is likely to offer cashbacks on purchases and discounts on its products to attract users in India’s competitive digital payments market.
Key statistics
49%
UPI’s share of global real-time payments
2,365.84 crore
Monthly UPI transactions in India
Rs 29.88 lakh crore
Monthly UPI transaction value
0.15-0.20%
Apple’s proposed transaction fee
0.10%
Banks’ proposed transaction fee
Processed with AI. Reviewed by DH Digital Team.
An Apple iPhone with Apple Pay is shown in this photo illustration.
Published 11 August 2026, 10:41 IST