Apple launches payment service across India

Apple announced on Wednesday the launch of its payment service Apple Pay across India, aiming to capitalize on the country's vast digital payments market. Currently, over 80% of India's digital transactions are facilitated through the United Payments Interface (UPI), which is recognized as the world's largest real-time payment system by volume, as per the IMF. Major apps such as PhonePe, Google Pay (Alphabet's), and Paytm also hold significant market share in the Indian market.

This initiative is made possible through a partnership with Axis Bank, India's third-largest private lender. Axis Bank customers now have the option to store their credit card information in Apple Wallet, enabling them to conduct payments using their iPhones or Apple Watches at thousands of merchants both in-store and online across India.

Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet, expressed enthusiasm about bringing Apple Pay to India, a country home to a digitally savvy population that continues to favor cashless transactions. Although Android smartphones are more prevalent among Indian customers, a rising number of affluent individuals are opting for iPhones.

As of 2025, Apple had sold more than 14 million units in India. The company has been striving to establish India as a crucial manufacturing and export base for its products to lessen its reliance on China. India is responsible for about 25% of global iPhone production, according to local reports.

Apple Pay's expansion is also timely as India's government recently permitted banks and payment apps to levy a small fee on larger UPI transactions for the first time in six years. This change, announced this month, is aimed at sustaining the digital infrastructure. However, critics argue that it may slow down usage, as merchants might pass on the additional cost to customers.