Apple is reportedly planning to bring Apple Pay to India. As per the MoneyControl report, the company is stepping up the discussions with global card networks such as Visa and Mastercard while also working through the country’s regulatory approval process. The report further added that if the approvals and commercial agreements fall into place, the iPhone maker is eyeing an initial launch later this year.
The iPhone maker is said to be negotiating the fee structures with card issuers for access to its payment gateway. For the unversed, Apple Pay already operates in nearly 90 markets globally, but India has not been a part of it so far.
The report further added that India rollout, if it happens, may happen gradually. In the first stage, Apple Pay is likely to support card-based contactless payments using near-field communication (NFC). The next phase sees the service integration with the Unified Payments Interface (UPI), which dominates everyday digital transactions in the country. However, the report stated that Apple may skip applying for a UPI third-party app license initially, as the regulatory process and technical architecture differ significantly from card-based systems.
When launched, Apple Pay will allow users to add their credit and debit cards to Apple Wallet and make tap-to-pay transactions at compatible point-of-sale terminals. So far, Indian-issued cards cannot be added to Apple Wallet.
We have reached out to Apple for an official response and will update this report as soon as we hear back.
On the other hand, Apple’s biggest rival, Samsung, has already stepped into the digital payments market in India via Samsung Wallet. It was introduced in 2022 and has gained momentum, specifically after adding UPI support.
In the meantime, Apple has recorded its highest-ever iPhone shipment in India last year, with its market share estimated at around 10 per cent, taking it to the top five brands list. And this growing market share could help the brand make a strong foundation to introduce localised services like Apple Pay.