Apple Pay Prepares India Entry via Axis Bank Partnership

Apple is preparing to launch its Apple Pay service in India next month, marking a strategic expansion into one of the world's largest digital payments markets. The rollout will begin with a partnership involving Axis Bank, the country's fourth-largest credit card issuer, according to reports citing sources familiar with the discussions.

Apple intends to introduce the service through a series of direct, bank-by-bank agreements, mirroring its phased deployment strategy in other international jurisdictions. While Axis Bank serves as the initial launch partner, discussions remain underway with other major private lenders including HDFC Bank and ICICI Bank. Sources indicated that commercial arrangements with these larger institutions have not yet been finalized, requiring the initial focus on a single partner.

India's digital payments landscape is heavily dominated by the home-grown Unified Payments Interface (UPI), which accounts for approximately 84% of the country's digital transaction volume. Apple Pay will enter this competitive environment as an alternative option, capitalizing on recent regulatory shifts by the Reserve Bank of India. The central bank recently permitted biometric authentication for card payments, enabling Apple's service to operate via Face ID and Touch ID for contactless transactions.

The upcoming entry coincides with steady growth for Apple in India, where its smartphone market share has doubled to 8% since 2022. By integrating tokenized card credentials directly into iPhones, Apple seeks to offer a tap-and-pay experience that bypasses separate third-party applications. As of July, Axis Bank reported 16.26 million active credit cards, providing an established initial user base. Neither Apple nor the participating banks have issued official confirmation regarding the exact launch timeline or commercial terms.