US EditionApple in Talks with Banks to Start Payment Service in India, Bloomberg News Reports
Apple Pay will support Unified Payments Interface and card payments, competing with Google Pay and Paytm, aiming to boost services revenue by mid-2026, sources said.
- Around mid-2026, Apple Inc. is in talks with ICICI Bank, HDFC Bank, Axis Bank, Visa Inc, and Mastercard Inc, first reported by the Times of India.
- As part of its services push, Apple aims to capture India’s growing market while India's central bank recently allowed biometric authentication that fits Face ID and Touch ID security.
- By integrating with Unified Payments Interface, Apple Pay will support both UPI and card payments, competing with Google Pay, PhonePe, Amazon Pay, and Paytm, while potentially boosting demand for iPhone, Apple Watch, iPad, and Mac.
- With Apple Pay on the horizon, that expansion may accelerate Apple's growth in the country as services and payments gain traction, and Apple typically takes a small cut from transactions.
- Expansion positions Apple to support local production and retail growth, with the Apple Borivali store in Mumbai and increased iPhone exports to the US.
11 Articles
11 Articles
Apple Pay in India: iPhone maker in talks with banks to launch service by mid-2026
As Apple deepens its presence in India, the company is preparing to roll out Apple Pay in one of the world’s largest digital payments markets. The iPhone maker is in advanced discussions with leading Indian banks and global card networks to launch the service as early as mid-2026.
Fintech stocks slip; Pine Labs falls 3%, One Mobikwik down 1% after report on Apple Pay’s India plans
Listed fintech and payments-linked stocks traded with a mild negative bias after the report that Apple is in talks with banks and card networks to launch Apple Pay in India around mid-2026.
Channel News Asia
Times of IndiaApple in talks with banks to start payment service in India, Bloomberg News reports
Feb 26 : Apple is in talks with several Indian banks and global card networks as it prepares to launch its Apple Pay service in India, Bloomberg News reported on Thursday, citing people familiar with the matter. The iPhone maker is in talks with ICICI Bank, HDFC Bank and Axis Bank, as it aims to introduce it
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- 45% of the sources are Center, 44% of the sources lean Right
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