Summary of this article
Apple Pay may launch in India by October, starting with Axis Bank credit cards.
iPhone users could make contactless card payments using tokenised cards and biometric authentication.
Apple may initially support limited banks before expanding partnerships across India’s payment ecosystem.
Digital payments have become a routine part of how Indians pay, with UPI accounting for a large share of the country's digital payment volumes. The country's payment ecosystem could soon see another addition, with Apple Pay expected to enter India.
The service would allow iPhone users to make contactless payments using eligible bank cards stored on their devices. Apple is poised to launch Apple Pay in India as early as next month, starting with Axis Bank credit cards, as reported by Reuters.
Mark Gurman, Bloomberg's Managing Editor, has also said Apple is gearing up to launch Apple Pay in India by October. In a post on X, he said, “Apple is gearing up to launch Apple Pay in India — finally — by October, I’m told.”
Axis Bank is the fourth-largest credit card issuer in India. It had 16.26 million active credit cards in July, trailing HDFC Bank, SBI Cards and ICICI Bank, according to Reserve Bank of India data. Apple has also been in discussions with HDFC Bank and ICICI Bank, although the two lenders are yet to agree on commercial terms. The service could therefore initially be available with a limited number of banks before Apple expands support.
How Will Apple Pay Work?
Apple Pay allows iPhone users to make tap-and-pay purchases using tokenised card details stored on their devices. Users can make payments without opening a separate payments app.
The service is designed to work with eligible debit and credit cards. Payments can be authenticated using Face ID or Touch ID, depending on the device. For users, this means an eligible bank card could be stored on the iPhone and used at supported contactless payment terminals without carrying the physical card for every transaction.
Apple Pay would enter an already crowded digital payments market in India. UPI allows users to make payments through QR codes, phone numbers and tap-and-pay transactions, and accounts for 84 per cent of India's digital payments volume.
Which Banks Will Support Apple Pay?
Axis Bank is expected to be the first major banking partner. Apple plans to add more lenders over time through direct, bank-by-bank agreements, following the phased approach used in some other markets.
The Reserve Bank of India allowed biometric authentication for card payments last year, enabling payment services such as Apple Pay to work with Indian bank cards using Face ID and Touch ID. Apple has not officially announced an India launch date or confirmed the participating banks. The expected rollout will therefore depend on Apple's formal announcement and the agreements reached with individual lenders.
