Now Reading: Apple Pay to launch in India next month with Axis Bank
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Apple Pay to launch in India next month with Axis Bank
Apple Pay is set to launch in India next month, beginning with Axis Bank credit cards, according to reports from Reuters and Bloomberg. The initial rollout will focus on cards on international…
Apple Pay is set to launch in India next month, beginning with Axis Bank credit cards, according to reports from Reuters and Bloomberg. The initial rollout will focus on cards on international networks like Visa and Mastercard, not UPI. Apple is seeking a commission of 0.15-0.2 per cent on transactions, while some banks have pushed for 0.1 per cent.
Talks are ongoing with ICICI Bank and HDFC Bank, though commercial terms are not finalised. The launch coincides with an RBI rule change from October 15 allowing biometric authentication for digital payments and a new 0.4 per cent merchant discount rate on UPI transactions above Rs 2,000. Apple Pay will enter a market where UPI dominates, with PhonePe and Google Pay controlling about 80 per cent of UPI transaction value.
Indian Opinion Analysis
All three reports are straight wire-style coverage, with deccanherald.com and t2online.in sticking closely to the Reuters/Bloomberg timeline and thefederal.com adding the UPI and fee context. t2online and thefederal both flag the UPI competition and the lack of UPI support at launch, thefederal also notes Apple has not officially confirmed the rollout. The regulatory change from the RBI enabling biometric authentication is presented as a key enabler across the board, and the MDR shift is handled neutrally. The coverage is uniform, so the real test is whether NPCI approves UPI integration later and how merchants respond to the tap-and-pay alternatives. Watch NPCI's next announcement and the October 15 MDR rollout.
Coverage: 3 sources, 3 neutral
Sources (3): deccanherald.com (neutral report), t2online.in (neutral report), thefederal.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry.
Updated: this story now draws on 3 sources.
