Apple Pay to Launch in India by October Without UPI, Targeting Premium Card Users
Updated
Updated · Business Standard · Aug 9
Apple Pay to Launch in India by October Without UPI, Targeting Premium Card Users
3 articles · Updated · Business Standard · Aug 9
Summary
Apple Pay is set to debut in India by October, giving the iPhone maker an entry into the country’s premium credit-card payments market, people familiar with the plan said.
Visa and Mastercard credit cards will be supported at launch, while UPI will be excluded initially as Apple negotiates transaction fees with banks.
That structure would let Apple earn a fee on each transaction, unlike India’s dominant UPI system, which has reshaped the country’s digital-payments landscape.
Apple has been in talks with major Indian banks since February, while any future UPI integration would still require NPCI clearance and a sponsor bank.