Apple is in talks with Indian banks to introduce Apple Pay in India, primarily through credit card partnerships, in a market where the Unified Payments Interface (UPI) reigns supreme for everyday transactions.
Apple is preparing to bring Apple Pay to India, a market where digital payments are already led by the state-backed Unified Payments Interface. According to Reuters, the company is in talks with Axis Bank for an initial launch and has also discussed possible partnerships with HDFC Bank and ICICI Bank, although commercial terms have not yet been settled. Apple and the banks have not publicly confirmed the plan.
The proposed entry would give Apple a foothold in one of the world’s most active payments markets, but only on a narrow scale at first. Reports from Business Standard and other Indian media indicate that the rollout is likely to begin with Axis Bank credit cards, rather than a broad consumer launch across bank accounts or UPI transfers. That would keep Apple Pay closer to a card-based tap-to-pay service than a direct challenger to India’s dominant instant-payment rail.
That distinction matters because UPI operates at enormous volume. Official data cited by Reuters showed that UPI processed 24.5 billion transactions worth ₹29.82 lakh crore in August 2026 alone, accounting for 84% of India’s digital payment volumes. PhonePe and Google Pay together controlled about 80% of UPI transaction value in that month, underlining how concentrated the market already is.
Apple is still entering from a position of global strength. In January 2026, the company said Apple Pay was available in 89 markets and supported by more than 11,000 banks and network partners. Apple also said the service generated more than $100 billion in incremental merchant sales in 2025 and helped prevent more than $1 billion in fraud. For Indian users, the launch would bring Apple’s familiar tap-to-pay system to iPhones and Apple Watches, but in a payments environment where UPI remains the default for everyday transactions.
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