Apple Pay is reportedly set to launch in India today, September 29, with Axis Bank becoming the service’s first banking partner in the country.
The launch would bring Apple’s mobile payment service to one of its largest remaining unsupported markets, more than a decade after Apple Pay first launched in the United States.
According to TechCrunch, citing people familiar with the matter, Apple is preparing to switch on Apple Pay in India later Tuesday in the United States, which falls on Wednesday local time in India.
The initial rollout is expected to be limited to eligible Axis Bank cards running on the Visa and Mastercard networks.
India’s domestic RuPay card network reportedly won’t be supported at launch, while Apple Pay acceptance will initially be limited to merchants and payment terminals that have been enabled for the service.
Apple and Axis Bank haven’t publicly confirmed the launch at the time of writing, meaning the timing could still change.
The report follows earlier information from Reuters, which said earlier this month that Apple was preparing to introduce Apple Pay in India with Axis Bank as its first partner.
That report had pointed to an October launch, making today’s reported rollout slightly earlier than previously expected.
Apple Pay’s arrival in India will look different from the service’s introduction in many other countries because of the enormous popularity of India’s Unified Payments Interface, better known as UPI.
UPI allows users to make instant bank-to-bank payments using methods including QR codes and phone numbers without relying on a traditional card payment network.
Reuters reported that UPI accounts for around 84% of India’s digital payment volume, meaning Apple Pay will enter a market where card-based contactless payments represent a much smaller part of everyday digital spending.
TechCrunch reports that Apple Pay’s initial Indian rollout will remain card-based rather than offering support for UPI.
Apple is reportedly negotiating individually with additional banks as it works to expand the service beyond Axis Bank.
HDFC Bank, ICICI Bank and SBI Card aren’t expected to support Apple Pay at launch, according to TechCrunch, with negotiations over commercial terms continuing.
Apple is reportedly seeking a fee of around 20 basis points on transactions, which has emerged as a sticking point in negotiations with some of India’s largest banks.
Axis Bank was India’s fourth-largest credit card issuer as of July, with 16.26 million active credit cards, according to Reserve Bank of India data previously cited by Reuters.
Once enabled, eligible customers should be able to add supported cards to Apple Wallet and use their iPhone or Apple Watch to make contactless payments at participating terminals, authenticated using Face ID, Touch ID or the device passcode.
Apple Pay launched in the United States in 2014 and has since expanded to dozens of countries and regions around the world.
India has remained a notable omission as Apple’s presence in the country has grown. Reuters reported earlier this month that Apple’s share of the Indian smartphone market has doubled to around 8% since 2022.
If today’s reported launch goes ahead, the initial Axis Bank rollout is expected to be only the beginning, with Apple working to bring additional Indian banks and cards to Apple Pay over time.
