Apple Pay Set to Launch in India Next Month

Apple is poised to launch its flagship mobile payment service, Apple Pay, in India next month, according to multiple reports. The iPhone-maker will look to make inroads in the country’s crowded digital payments market at a time when the Indian government’s controversial new 0.4 per cent UPI merchant fee on some transactions has sparked a debate over its impact on businesses. Apple Pay enables iPhone owners to make tap-and-pay purchases using tokenised card details stored on their devices, eliminating the need to open a separate payments app for transactions. The launch is set to become official sometime in October 2026, according to reports by Reuters and Bloomberg’s Mark Gurman. The upcoming debut of Apple Pay in India could mark the Cupertino-based tech giant’s latest efforts to expand its footprint in one of the world’s most populous countries (1.4 billion people) with a rapidly expanding middle class. India is one of the few major economies where Apple Pay is not yet available. So far, Apple’s India push has been limited to expanding its manufacturing and retail operations in the country. Apple’s share of India’s smartphone market has doubled to 8% since 2022, according to Counterpoint Research cited by Reuters. This makes it one of Apple’s fastest-growing markets. A large share of iPhones sold globally are also assembled in India. It will be interesting to see how Apple’s payment service performs in the local market. Here are 5 key things to know about the anticipated Apple Pay launch in India. Axis Bank partnership Apple Pay is expected to be rolled out in India first on Axis Bank’s credit cards, according to a recent Reuters report. The Mumbai -based private bank is also the fourth-largest credit card issuer in the country. But how does Apple Pay work with a credit card? Essentially, Apple Pay will securely store your credit card details in your iPhone’s digital wallet. This allows you to make contactless purchases. If news of this partnership is true, Axis Bank credit card owners with an iPhone or Apple Watch will no longer have to pull out a physical card to make transactions. Multiple cards can also be added to the Apple Wallet app on your iOS device. Payments in stores typically work by double clicking the side button on your iPhone or Apple Watch. You will then need to authenticate the payment with FaceID, TouchID, or your device passcode. Complete the transaction by holding the top of your device to the store’s contactless payment reader. To be sure, your credit card number is not shared with the merchant or stored on Apple servers. Instead, a unique device account number and one-time security code is used to enable each transaction, as per the company. Working with other lenders Besides Axis Bank, Apple is also reportedly working to expand support among the top lenders in India. It is said to be in talks with HDFC Bank and ICICI bank, Axis Bank’s largest private sector rivals, but they are yet to agree on the commercial terms, according to Reuters. For context, Axis Bank had 16.26 million active ​credit cards in July 2026, trailing HDFC Bank, SBI Cards, and ICICI Bank in terms of issuance, according ​to RBI data. Apple was previously reported to be discussing the plan with payment networks Mastercard and Visa as well. Apple Pay faces fierce competition The Unified Payments Interface (UPI) allows transactions via QR codes, phone ​numbers and tap and pay. Currently, UPI dominates the market, accounting for 84 per cent of India’s total digital payments volume. Earlier reports suggest that Apple Pay in India could support UPI transactions. Google Pay, Walmart-backed PhonePe, and Amazon Pay are among the global players already operating digital payments platforms in India, alongside homegrown players like Paytm. Regulatory groundwork for Apple Pay debut In 2025, the Reserve Bank of India (RBI) introduced new rules that allow biometric authentication such as fingerprint scanning or facial recognition, for digital payments. This is crucial for Apple Pay to work as it heavily relies on FaceID or Touch ID to approve in-person payments via tap-to-pay on websites or through apps. Prior to the new rules, authentication mechanisms put in place by Indian digital payments service providers have mostly been restricted to one-time passwords sent via text message. India is important for Apple Pay India has more than 750 million smartphone users consuming cheap mobile data. Coupled with a State-backed push, this has made the country one of the world’s fastest-growing digital payments markets. Hence, India could serve as a potential gateway for Apple to grow services revenue in the region given that the company takes a cut out of all Apple Pay transactions. Additionally, the launch of Apple Pay in India could also boost demand for the company’s hardware as the feature is built into Apple Watches, iPhones, iPads, and Macs.