Apple has launched its payments service Apple Pay in India, marking its entry into one of the world’s largest digital payments markets after years of anticipation. Axis Bank is the first banking partner for the service in the country.
The initial rollout is limited to eligible Axis Bank credit cards on Visa and Mastercard. Apple Pay does not currently support RuPay cards, while transactions will be possible only at merchants and payment terminals that have enabled the service.
Apple said Apple Pay will be accepted at millions of merchant locations across India, including Blinkit, Croma, Ixigo, Reliance brands, Tata 1mg and Zomato. The company has partnered with payment service providers including Cashfree, JusPay, Mswipe, Paytm, PayU, Pine Labs, Razorpay and Worldline to facilitate acceptance.
Unlike UPI, which enables direct bank-to-bank payments through a widely interoperable network, Apple Pay is built around card payments. Its expansion therefore depends on individual card issuers, payment providers and acquiring infrastructure integrating with the service.
According to people familiar with the matter cited by TechCrunch, Apple is seeking a transaction fee of around 20 basis points, or 0.2%. This compares with an estimated 40-50 basis points margin in the payments layer. HDFC Bank, ICICI Bank and SBI Card are not part of the initial rollout as discussions around commercial terms continue, according to the report.
Earlier this month, Reuters reported that Apple was preparing to launch Apple Pay in India in October, initially with Axis Bank credit cards.
At launch, eligible Axis Bank customers can add their credit cards to Apple Wallet and use Apple Pay for online purchases and contactless payments at supported terminals. Acceptance may vary across locations depending on whether the payment provider or acquiring bank has enabled Apple Pay.
The service enters a market where UPI dominates digital payments, with consumers widely using QR codes to make payments directly from their bank accounts. Apple Pay's initial opportunity is therefore concentrated in India's card-paying population, particularly among iPhone users and customers with premium credit cards.
The launch also adds to Apple's expanding presence in India across smartphones, manufacturing and retail. Apple accounted for 28% of India's smartphone market by value in 2025, up from 23% a year earlier, according to Counterpoint Research.
India currently accounts for about a quarter of global iPhone production, with the share expected to increase further as Apple expands its manufacturing footprint in the country.
