Apple in Talks with Indian Banks to Launch Apple Pay by Mid 2026
Apple Inc. is in active discussions with major Indian banks and global card networks as it prepares to launch Apple Pay in India.
According to people familiar with the matter, the iPhone maker is talking to ICICI Bank, HDFC Bank, and Axis Bank. The goal is to introduce the payment service in India around the middle of 2026. While the exact timeline is still flexible, these high-level talks suggest a launch is finally approaching.
Following this news, shares of current Indian payment providers, including Paytm, saw a decline.
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Apple is also discussing its plans with major payment networks like Mastercard and Visa. While these deliberations are private, the move highlights Apple’s serious push into a country of 1.4 billion people with a rapidly growing middle class.
Although Apple’s market share in India is currently around 10% with Android devices still dominating the region the company’s expanding retail and manufacturing presence has helped it gain significant ground.
Integration with UPI and Biometrics
Apple Pay in India is expected to support the state backed Unified Payments Interface (UPI) alongside traditional card payments. UPI is currently the leader in India’s digital payment space, allowing users to transfer money and pay bills instantly.
The launch also aligns with new Reserve Bank of India (RBI) rules set late last year. These rules allow for biometric authentication, such as Face ID or Touch ID, for digital payments. Previously, Indian systems relied heavily on one time passwords (OTPs) sent via text. Apple Pay’s use of Face ID and Touch ID for tap to pay and online purchases fits perfectly with this regulatory shift.
A Growing Market for Apple Services
With over 750 million smartphone users and affordable mobile data, India is one of the world’s fastest growing digital payment markets. This provides a massive opportunity for Apple to increase its services revenue, as the company typically takes a small fee from Apple Pay transactions.
Launching Apple Pay could also boost demand for Apple hardware, as the feature is built into:
- iPhones
- Apple Watches
- iPads
- Macs
Expanding Beyond Payments
Apple is also deepening its roots in India in other ways. The country has become a key production base for exporting iPhones to the US, helping Apple diversify its manufacturing away from China.
Additionally, Apple is quickly growing its retail footprint. This week, it opened its sixth Indian store in Mumbai. Apple CEO Tim Cook has frequently highlighted that sales in India are growing fast, making the market a vital part of the company’s global strategy.
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