Apple to launch Apple Pay in India with Axis Bank

Apple is preparing to launch Apple Pay in India next month, starting with a partnership with Axis Bank. This move aims to expand the company’s digital wallet services into the world’s most populous country.

The rollout will initially support credit cards issued by Mumbai-based Axis Bank, which is India’s fourth-largest credit card issuer. Apple intends to follow a phased expansion strategy, negotiating individual agreements with other major lenders such as HDFC Bank and ICICI Bank to increase service coverage.

The launch follows a regulatory change by the Reserve Bank of India that permits native biometric authentication. This allows iPhone users to validate transactions using Face ID and Touch ID, removing the previous requirement for SMS verification.

Apple faces significant competition in the Indian market, where the homegrown Unified Payments Interface (UPI) currently accounts for approximately 84% of digital retail payment volumes.