After years of anticipation, Apple launched Apple Pay in India, expanding into one of the world’s largest digital payments markets. The service went live on September 30, initially supporting Visa and Mastercard credit cards issued by Axis Bank.
Users with compatible iPhone and Apple Watch devices can make contactless payments in stores and within apps. HDFC Bank and ICICI Bank, two of India’s largest lenders, are not part of the initial launch. Commercial terms with the banks have reportedly not been finalized.
The limited initial bank support could temper adoption in a market dominated by the state-backed Unified Payments Interface (UPI), which accounts for the vast majority of digital transactions.