Mumbai, Feb 26 : Apple Inc. is in advanced discussions with major Indian banks, including ICICI Bank, HDFC Bank, and Axis Bank, as it prepares to introduce Apple Pay in India, potentially by mid-2026, according to sources familiar with the matter. The company is also coordinating with global payment networks Mastercard and Visa to support both card based transactions and India’s state-backed Unified Payments Interface (UPI).
The launch is part of Apple’s broader strategy to expand in India, a market of 1.4 billion people with a rapidly growing middle class and over 750 million smartphone users. While Apple’s market share remains modest compared to Android devices, the company has increased its local manufacturing and retail footprint, including the recent opening of its sixth store in Mumbai.
Apple Pay in India is expected to leverage biometric authentication via Face ID and Touch ID, aligning with new Reserve Bank of India guidelines allowing fingerprint and facial recognition for digital payments. This move positions Apple to compete with established digital platforms like Google Pay, PhonePe, Amazon Pay, and Paytm.
The integration of Apple Pay could also stimulate hardware demand, as the payment system is compatible with iPhones, Apple Watches, iPads, and Macs. With Apple steadily growing its share to about 10% of India’s smartphone sales, the rollout of its payments service could further strengthen the company’s services revenue while boosting its ecosystem in the region.
Apple’s India strategy also includes using the country as a key production base to export iPhones to global markets, diversifying supply chains away from China and mitigating tariff related costs. The planned introduction of Apple Pay marks a significant step in the company’s push to become a major player in one of the fastest growing digital payments markets in the world.