Washington : In a move set to disrupt India’s booming digital payments landscape, Apple Inc. is reportedly in high-level discussions with the nation’s leading financial institutions to debut its flagship payment service, Apple Pay. According to a report by Livemint, citing sources familiar with the development, the Cupertino-based tech giant is coordinating with ICICI Bank, HDFC Bank, and Axis Bank to finalize a rollout aimed for the middle of 2026.
While Apple has historically maintained a cautious approach to the Indian fintech market, the current push signals a deeper commitment to the world’s most populous country. As reported by Bloomberg, the tech giant is also engaging with global payment networks Mastercard and Visa to ensure seamless integration. Unlike its traditional card-centric model used in the West, Apple Pay in India is expected to be a hybrid powerhouse. It will likely support the state-backed Unified Payments Interface (UPI) alongside traditional card-based contactless payments, allowing it to compete directly with established giants like Google Pay and PhonePe.
The timing is particularly strategic. Recent Reserve Bank of India (RBI) regulations now permit biometric authentication such as Face ID and Touch ID for digital transactions, aligning perfectly with Apple’s core security hardware. While Apple has declined to comment on the negotiations, the Livemint report suggests that the “Tap to Pay” functionality will be the centerpiece of the offering. This would allow iPhone users to make secure, encrypted payments at retail terminals without needing a physical card or a third-party app. As Apple continues to hit record shipment milestones in India, the integration of a localized payment ecosystem is viewed by analysts as the final piece of the puzzle to secure long-term loyalty among India’s rapidly expanding middle class.
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