Apple Pay set to debut in India next month with Axis Bank partnership

Apple intends to roll out its Apple Pay mobile payment platform in India as early as next month, beginning with credit cards from Axis Bank, the fourth-largest card issuer in the country. The launch would mark the service's entry into the world's most populous nation, a market where it has previously been absent. Apple is simultaneously negotiating with larger private-sector banks HDFC Bank and ICICI Bank, though commercial terms remain unsettled.

The company plans to expand the service gradually through direct agreements with individual banks, mirroring its strategy in other markets. Apple Pay enables iPhone users to make tap-and-pay purchases using tokenised card data stored on their devices, now supported by biometric authentication after a Reserve Bank of India rule change. The addition comes as Apple’s share of India's smartphone market has risen to 8 percent, while the domestic digital payments space is dominated by the Unified Payments Interface, which accounts for 84 percent of transaction volume.