Apple is in active discussions with major Indian financial institutions to finally launch Apple Pay in India.
The tech giant is targeting a mid-2026 launch (around June or July), marking a significant shift in its strategy after nearly a decade of observing India’s unique digital payment landscape from the sidelines.
The Partnership Details
Apple is coordinating with both local banking giants and global payment networks to build its Indian infrastructure:
- Banking Partners: The primary talks are with ICICI Bank, HDFC Bank, and Axis Bank.
- Card Networks: Apple is negotiating with Visa and Mastercard regarding transaction fee structures and tokenization.
- UPI Integration: In a major reversal of its previous global “card-only” stance, Apple Pay in India is expected to support the Unified Payments Interface (UPI) alongside traditional NFC-based “Tap to Pay” card transactions.
Key Features & Rollout Strategy
Apple is expected to follow a phased approach to ensure compliance with India’s strict regulatory environment:
| Feature | Phase | Description |
| Tap to Pay (NFC) | Phase 1 | Users can add credit/debit cards to Apple Wallet and pay by tapping their iPhone or Apple Watch at POS terminals. |
| Tap to Pay on iPhone | Phase 1 | Allows Indian merchants to use their own iPhones as payment terminals without needing extra hardware. |
| UPI Integration | Phase 1/2 | Integration with the UPI rail to allow scan-and-pay at millions of small merchants (Kirana stores). |
| Apple Card India | Speculative | Rumors suggest a potential co-branded credit card with HDFC Bank may follow in late 2026 or 2027. |
Regulatory & Security Hurdles
The mid-2026 timeline is strategically aligned with several regulatory shifts in India:
- New RBI Mandates (April 2026): The Reserve Bank of India (RBI) is enforcing new rules requiring dynamic two-factor authentication and sophisticated risk-based assessments for all digital transactions. Apple’s FaceID and TouchID systems are being adapted to meet these specific local security protocols.
- Data Localisation: Apple has reportedly agreed to store all Indian payment data exclusively on servers within India, complying with the RBI’s “Data Storage for Payment System Providers” directive.
The Competitive Landscape
Apple’s entry puts it in direct competition with entrenched players:
- Google Pay & PhonePe: The current “duopoly” that controls over 80% of UPI transaction volume.
- Samsung Wallet: Already features deep UPI integration and has been live in India since 2022.
- Paytm: Recovering from recent regulatory setbacks, Paytm is still a major player in the “offline” QR code space.
Current Status: While the talks are at an advanced stage, the timeline remains “fluid” and depends on final approvals from the National Payments Corporation of India (NPCI).
