3 hrs ago
Apple Pay Launches in India With Limited Bank Support
Apple Pay is now available in India.
It lets people pay with some credit cards using Apple devices.
For now, only Visa and Mastercard cards from Axis Bank work.
People can pay without typing an OTP or PIN each time.
Many merchants, including Blinkit, Croma, Ixigo and Zomato, can accept it.
Experts think Apple Pay could make card payments easier and more popular.
UPI will probably remain the main way people make everyday digital payments.
Apple Pay is not expected to make iPhones cheaper, although Apple could offer incentives later.
Apple Pay has launched in India about 12 years after its United States debut.
Indian users can currently connect Visa and Mastercard credit cards issued by Axis Bank.
The service enables payments without entering an OTP or PIN at checkout.
Apple Pay is available at merchants including Blinkit, Croma, Ixigo and Zomato.
Experts say Apple Pay may increase card use, but is unlikely to reduce iPhone prices directly.
- Who
- Apple launched Apple Pay in India, initially with Axis Bank credit-card support.
- What
- A digital payment service that lets users pay through compatible Apple devices without entering an OTP or PIN.
- Where
- In India, at participating merchants and on supported iPhones and Apple Watches.
- When
- The service has launched in India, roughly 12 years after its United States debut.
- Why
- Apple says it aims to provide a convenient, secure and private payment experience while expanding its ecosystem.
Potential Benefits
Current Limitations
Card-payment adoption
Potential Benefits
Supporters say Apple Pay removes checkout friction and could increase credit-card transactions by making payments easier and more secure.
Current Limitations
Its initial reach is limited because only Visa and Mastercard credit cards issued by Axis Bank are supported.
Relationship with UPI
Potential Benefits
Apple Pay offers a different experience focused on convenience, privacy and avoiding OTP codes.
Current Limitations
Experts say UPI will continue to dominate everyday digital payments in India, so Apple Pay may remain a supplementary option.
Effect on Apple-product prices
Potential Benefits
The service may strengthen Apple’s ecosystem and customer loyalty in India.
Current Limitations
Apple Pay is primarily a payment method and is not expected to directly lower iPhone or other Apple-product prices.
Key facts
- Initial bank partner
- Axis Bank
- Supported cards
- Visa and Mastercard credit cards issued by Axis Bank
- India credit-card base
- More than 122 million cards
- Axis Bank active cards
- 16.23 million
- Digital-payment pattern
- UPI accounts for more than 80% of digital payment volume in India
- Supported iPhones
- iPhone XR and newer models running iOS 18 or later
- Supported Apple Watches
- Apple Watch Series 6 or later running watchOS 11 or later
Quotes
Tarun Pathak
Research Director at Counterpoint
“The key will be to see how quickly other leading banks come on board, as that will determine the extent to which the potential user base expands”
thehansindia.com
“Apple Pay won't have a direct impact on the price of the iPhone, as it is primarily a payment method”
thehansindia.com
Jennifer Bailey
Apple’s Vice President of Apple Pay and Apple Wallet
“India has a dynamic, tech-savvy population that continues to embrace a cashless future and demands the highest standards of security and privacy; that is why we are thrilled to bring Apple Pay to users in India today”
thehansindia.com
Sources
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