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Apple has officially launched its Apple Pay digital payment service in India through a strategic partnership with Axis Bank, marking its entry into one of the world’s largest digital payments markets.
Initially, Apple Pay will be available to Axis Bank customers holding Visa and Mastercard credit cards. India’s domestic RuPay cards will not be supported at launch.
Axis Bank, India’s third-largest private-sector lender, is the first financial institution in the country to offer Apple Pay. The bank has more than 16.3 million credit card customers.
Apple Pay users can make contactless payments using an iPhone, Apple Watch or iPad through Apple Wallet or the Axis Bank mobile app. Transactions can be authenticated using Face ID or Touch ID, without requiring a PIN or one-time password (OTP).
Apple Pay had remained unavailable in India despite the country’s rapid growth in digital payments. Apple is reportedly in discussions with HDFC Bank and ICICI Bank to expand the service to more customers.
Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said the company was excited to bring the service to Indian users while maintaining high standards of security and privacy.
India’s digital payments market is dominated by the Unified Payments Interface (UPI), the country’s homegrown instant payment system. According to the International Monetary Fund, UPI accounts for around 84 per cent of India’s digital payment transactions.
Despite UPI’s dominance, Apple is entering the market with a focus on its secure device ecosystem and premium customer base.
The launch could further intensify competition in India’s fintech and digital payments sector, while potentially influencing the broader technology and financial services markets across South Asia.