Apple Pay set to launch in India with Axis Bank today, sources say
News Source
β’Tue, 29 Sep 2026 18:45:00 +0000
π° What Happened
Apple is launching Apple Pay in India, with Axis Bank as its first banking partner. The launch came on Tuesday. It marks Apple's entry into the world's most populous country after years on the sidelines.
The first rollout is limited. It supports eligible Axis Bank cards on Visa and Mastercard, but not India's homegrown RuPay network. Only certain merchants and card machines can accept it at first.
π The Backstory
India's payments market is dominated by UPI, a system that lets people send money instantly between bank accounts without cards. Apple Pay is card-based, so it needs banks and payment companies to connect to it. That makes a full launch harder.
Money is also a sticking point. Apple is asking for a fee of about 20 basis points per transaction. Some big banks, including HDFC, ICICI, and SBI Card, are not joining at launch while talks continue.
π― Why It Matters
How people pay in India affects billions of daily transactions. Apple's entry could change fees and choices for shoppers, though UPI will stay the most used system.
Apple is launching Apple Pay in India, with Axis Bank as its first banking partner. The launch came on Tuesday. It marks Apple's entry into the world's most populous country after years on the sidelines.
The first rollout is limited. It supports eligible Axis Bank cards on Visa and Mastercard, but not India's homegrown RuPay network. Only certain merchants and card machines can accept it at first.
India's payments market is dominated by UPI, a system that lets people send money instantly between bank accounts without cards. Apple Pay is card-based, so it needs banks and payment companies to connect to it. That makes a full launch harder.
Money is also a sticking point. Apple is asking for a fee of about 20 basis points per transaction. Some big banks, including HDFC, ICICI, and SBI Card, are not joining at launch while talks continue.
How people pay in India affects billions of daily transactions. Apple's entry could change fees and choices for shoppers, though UPI will stay the most used system.