In a major development for digital payments in India, Apple Inc. is reportedly in advanced discussions with leading Indian banks to introduce its mobile payment service, Apple Pay, in the country by around mid-2026.
According to sources cited by Bloomberg and confirmed by other news outlets, Apple is in talks with top private lenders — ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd. — as well as major global card networks Visa and Mastercard. The discussions are part of Apple’s strategy to expand its services ecosystem in India, one of the world’s fastest-growing digital payments markets.
Apple Pay Set to Support UPI and Card Payments
The service is expected to be tailored for the Indian market, potentially supporting both Unified Payments Interface (UPI) transactions — the country’s dominant real-time payments system — and traditional card-based payments. UPI has rapidly grown as India’s preferred mode of digital payments, with wide adoption among consumers and merchants alike.
If the launch proceeds as anticipated, Apple Pay would enter a competitive landscape already served by established players such as Google Pay, PhonePe, Paytm and WhatsApp Pay.
Strategic Significance for Apple in India
The planned launch marks a significant step in Apple’s broader India strategy. While the company has steadily increased its share of iPhone sales in the country, its services business — including digital payments — has remained relatively underdeveloped compared to other regions. The introduction of Apple Pay could help deepen customer engagement and unlock new revenue streams as digital wallet usage continues to surge in India.
Apple has not officially commented on the negotiations, and timelines remain fluid as discussions progress. However, industry watchers see this move as a potential game-changer in India’s fast-evolving fintech landscape.
By Mint
