Apple is set to introduce Apple Pay in India as early as October, initially supporting credit cards from Visa and Mastercard, but not UPI, raising questions about how quickly the service will expand and compete in the country’s bustling payments landscape.
Apple is preparing to bring Apple Pay to India as early as October, according to TV9 Hindi, in a move that would give the company a direct presence in one of the world’s most competitive digital payments markets. The launch is expected to begin with credit cards on the Visa and Mastercard networks, allowing users to store cards in Apple Wallet and make contactless payments with an iPhone or iPad at point-of-sale terminals.
At launch, the service is not expected to support UPI, the home-grown payments system that dominates many everyday transactions in India. TV9 Hindi said Apple would need approval from the National Payments Corporation of India and a sponsoring bank partnership before UPI could be added. The report said Apple has been aiming to complete launch preparations by late September or October, although the company has not publicly commented.
The timing comes after Apple has already restored card payments for some India-based Apple account purchases, including App Store and iCloud transactions, following a lengthy pause. Gadgets 360 reported that Visa and Mastercard support has returned for those services, while a separate report from the same outlet noted that Apple had halted card payments for subscriptions and app purchases in India in May 2022, pushing users towards UPI and net banking instead.
If Apple Pay does go live, the company could also benefit financially from each transaction. TV9 Hindi reported that Apple had been discussing a fee of 15 to 20 basis points with banks, while some large card issuers were pushing for a lower charge of 10 basis points. One basis point equals 0.01%. Industry observers say Apple Pay could encourage more credit card spending in India, even as questions remain over whether UPI support will follow and how quickly Apple can expand the service beyond an initial card-only rollout.
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