Apple Pay might finally hit the Indian market as soon as late September or October (timeline unspecified, but it will not support UPI. This is said to be a big deal for people in India, where UPI payments is currently everywhere.
Business Standard reported that Apple is busy talking with India’s major credit card issuers as it gears up for launch. For now, they seem focused on supporting credit cards on Visa and Mastercard networks.
So, what does this all mean? Here’s what you should know:
1. Apple Pay may launch without UPI
UPI is a massive piece of India’s payments ecosystem, but Apple does not look ready to jump in just yet. It sounds like they want to roll out Apple Pay with just card payments at first, sidestepping the whole UPI system. Integrating UPI is not simple; rather, it means working with the National Payments Corporation of India (NPCI) and finding a bank willing to partner up.
It looks like Apple wants to tackle cards first and figure out UPI later. For now, that puts Apple Pay in a different league than Google Pay or PhonePe, which people use for tons of everyday purchases.
2. Credit cards could be the main focus
Indian iPhone owners, get ready, as you might probably be able to load your eligible credit cards into Apple Wallet and pay with your phone at NFC terminals, just like folks do in other countries.
- Tap your iPhone
- Authenticate
- And you are done
For anyone who prefers paying with cards, Apple Pay could make the whole process smoother and maybe even make you skip your wallet more often.
3. Apple and banks are negotiating transaction fees
Apple is said to be talking money with India’s banks, too. Apparently, they are asking for about 15 to 20 basis points (that’s 0.15 to 0.20 per cent) from every credit card transaction handled through Apple Pay.
Banks, on the other hand, want to keep the cut closer to 10 basis points. This fee won’t hit consumers directly—it gets collected from what the banks already earn from card transactions.
Apple Pay India launch date is not confirmed
Apple has not officially named a date or said which banks and cards will work with Apple Pay in India. If things move forward as expected, Indian iPhone users should soon be able to store credit cards on Apple Wallet and pay with just a tap. Just remember—no UPI at the start, so Apple Pay’s role in India could look pretty different compared to what you see in other countries.
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