Apple Pursues Partnership with Indian Banks to Launch Local Payment Service

Apple Pay Expansion in India

Apple Inc. is in discussions with key Indian banks and global card networks to introduce its payment service, Apple Pay, in the country. Talks are underway with ICICI Bank Ltd., HDFC Bank Ltd., and Axis Bank Ltd., with the aim of launching Apple Pay in India around the middle of 2026.

Apple is also in talks with payment networks Mastercard Inc. and Visa Inc., as it seeks to expand its presence in the country of 1.4 billion people with a rapidly expanding middle class. The planned launch marks another step in Apple's push to expand in India, where its market share is still small in a region dominated by less expensive Android devices.

Apple Pay in India is expected to support India's state-backed Unified Payments Interface (UPI), alongside card-based payments. UPI, which allows Indian customers to instantly transfer money and pay bills, dominates India's digital payments space. This move is expected to boost demand for Apple's hardware, particularly its iPhones, which have a built-in Apple Pay feature.

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Apple has steadily increased its market share to about 10% of India's smartphone sales, leaving it significant room for further growth. The company is also using India as a key production base to export iPhones to the US, diversifying its manufacturing footprint away from China. Apple has rapidly expanded its retail presence in India, opening its sixth store in Mumbai this week.

Key Statistics

• 1.4 billion: population of India
• 2026: expected launch date of Apple Pay in India
• 10%: Apple's market share of India's smartphone sales
• 750 million: number of smartphone users on cheap mobile data in India