Apple Pay India Launch Next Month With Axis Bank Credit Cards
Apple Pay India launch next month with Axis Bank credit cards is expected to bring Apple’s payment service to one of the world’s largest digital payments markets, according to three sources familiar with the matter, cited by Reuters. The service is expected to debut with Axis Bank credit cards, making the lender Apple’s first major banking partner in India.
Axis Bank is the country’s fourth-largest credit card issuer. Apple is also discussing partnerships with HDFC Bank and ICICI Bank, although commercial terms have not yet been agreed with those lenders, according to the sources.
The Apple Pay India launch next month with Axis Bank credit cards would begin with a limited banking rollout rather than nationwide support across major lenders. Apple is expected to expand the service gradually through individual agreements with banks.
The discussions with HDFC Bank and ICICI Bank could eventually broaden the availability of the service. However, both banks remain in talks with Apple, and there is no confirmed timeline for their participation.
Apple and HDFC Bank did not respond to Reuters requests for comment. Axis Bank and ICICI Bank declined to comment, while the sources spoke anonymously because the negotiations are private.
The Apple Pay India launch next month with Axis Bank credit cards would introduce Apple’s established tap-to-pay system to Indian iPhone users. Apple Pay stores tokenised card details on the device, allowing users to make contactless purchases without opening a separate payments application.
The Apple Pay India rollout could give iPhone users another option within India’s rapidly expanding digital payments ecosystem. The phased approach would allow Apple to add more lenders as agreements are reached.
For Axis Bank, the partnership would place its credit cards at the centre of Apple’s initial India offering and potentially give its cardholders access to the service from launch.
The Apple Pay India launch next month with Axis Bank credit cards is expected to be followed by further discussions with other major lenders. Apple plans to add banks over time through direct, bank-by-bank agreements, according to one of the sources.
The Apple Pay India rollout will therefore depend on the pace of those commercial negotiations. HDFC Bank and ICICI Bank remain important potential partners, but their participation has not been finalized.
For now, Axis Bank is expected to be the first major Indian banking partner when Apple brings its payment service to the country.
