Apple Pay set to launch in India with Axis Bank today, sources say
Apple is launching its Apple Pay service in India, starting with Axis Bank as its primary partner. The rollout faces challenges due to the dominance of the state-backed UPI system and ongoing negotiations regarding transaction fees with major Indian banks.
Why it matters
Entering the Indian market is a major strategic move for Apple, but it must compete against a highly efficient, established local digital payment infrastructure.
Apple is set to launch Apple Pay in India later Tuesday with Axis Bank as its initial banking partner, TechCrunch has learned, bringing its payments service to the world’s most populous country after years on the sidelines of a market dominated by UPI.
The initial rollout will be limited, according to people familiar with the matter. Apple Pay will initially support eligible Axis Bank cards on Visa and Mastercard, but not India’s homegrown RuPay network. Acceptance will also be restricted to merchants and payment terminals that have been enabled for the service.
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