Apple Pay Targets India for 2026 Launch, Engages Major Private Banks
Apple is actively negotiating with three of India's largest private banks—ICICI Bank, HDFC Bank, and Axis Bank—to launch its Apple Pay service in the country around mid-2026, according to a Bloomberg report citing sources familiar with the discussions. This strategic move would mark Apple Pay's entry into India more than 11 years after its initial debut in the United States back in September 2014.
Partnerships with Mastercard and Visa Under Discussion
As part of the comprehensive rollout plan, the iPhone manufacturer is also in talks with global payment giants Mastercard and Visa. If these negotiations proceed as anticipated, Apple Pay will finally bridge a significant gap in its global presence, which currently spans 89 markets worldwide. India, recognized as one of the world's fastest-growing digital payments economies, has remained conspicuously absent from Apple's payments network due to regulatory complexities and the overwhelming dominance of the Unified Payments Interface (UPI).
Regulatory Hurdles Cleared with New Biometric Rules
A major obstacle was recently overcome when India's central bank, the Reserve Bank of India, approved new regulations late last year. These rules permit the use of biometric authentication methods such as Face ID and Touch ID for digital payments. Previously, India's payment framework heavily relied on Aadhaar-based verification, which posed challenges for Apple's on-device authentication system. This regulatory shift levels the playing field, even though competitors like Google Pay and Samsung Wallet had already devised workarounds to operate within the earlier framework.
Phased Rollout Strategy: NFC First, UPI Later
Reports indicate that Apple Pay's introduction in India will likely occur in phases. The initial stage is expected to concentrate on card-based contactless payments utilizing NFC-enabled terminals. Integration with UPI, which would represent a transformative development given its widespread adoption for everyday transactions in India, may follow in subsequent phases. However, this integration will require separate regulatory approvals, adding another layer to the deployment timeline.
Apple's Expanding India Footprint Adds Momentum
The timing of these discussions aligns with Apple's rapidly growing presence in the Indian market. During the third quarter of 2025, Apple shipped a record 5 million iPhones in India, securing fourth place in the market for the first time, as reported by IDC. Additionally, the company inaugurated its sixth retail store in India—its second location in Mumbai—just last Thursday. With this expanding hardware base, introducing a proprietary payments layer becomes a strategically logical step to enhance user experience and ecosystem loyalty.
Key Points:
- Apple is in advanced talks with ICICI Bank, HDFC Bank, and Axis Bank for Apple Pay's India launch.
- Mastercard and Visa are also part of the rollout discussions, targeting a mid-2026 debut.
- New RBI biometric rules have cleared a major regulatory hurdle for Apple's authentication methods.
- The rollout will likely start with NFC-based card payments, with UPI integration to follow later.
- Apple's record iPhone sales and new retail stores in India underscore the strategic importance of this move.
