Apple Pay is launching in India in partnership with Axis Bank. The service will initially support Axis Bank credit cards on the Visa and Mastercard networks, excluding the local RuPay system.
The rollout is limited to merchants and payment terminals that have specifically enabled the service. This creates a fragmented acceptance landscape where functionality depends on the acquiring bank's infrastructure.
Apple is reportedly seeking a transaction fee of approximately 20 basis points. This demand has become a point of contention with major financial institutions like HDFC Bank, ICICI Bank, and SBI Card, which are not participating in the initial launch.
Unlike the dominant Unified Payments Interface (UPI) system, which facilitates direct bank-to-bank transfers, Apple Pay relies on a card-based model. This requires individual integration with issuers and payment providers.
The launch expands Apple's presence in India, where the company held a 28% share of the smartphone market by value in 2025. The country also produces about 25% of global iPhone output, with expectations for this share to reach 30–35% within five years.
