#mastercard

Apple Pay Likely to Launch in India by Late September or October Apple Pay is expected to launch in India by late September or October, with the initial rollout focusing on Visa and Mastercard credit cards rather than UPI-based transactions. The move marks a significant step for Apple as it seeks to establish a presence in India’s expanding premium credit-card market. According to a report by Business Standard, the service will initially support contactless payments through iPhones and Apple Watches at NFC-enabled point-of-sale (PoS) terminals. However, UPI integration is unlikely at launch, as Apple would need approval from the National Payments Corporation of India (NPCI) and a partnership with a sponsor bank to process UPI transactions. The potential launch comes nearly a decade after Apple first signaled its intent to bring Apple Pay to India. In 2017, Apple senior vice president Eddy Cue confirmed the company’s interest in entering the market during a speech in Hyderabad, though no specific timeline was provided. Despite early enthusiasm, the project faced regulatory and technical challenges. By late 2018, Apple had reportedly paused its plans for a UPI-based service due to concerns over the Reserve Bank of India’s (RBI) data localisation requirements. The company also encountered difficulties in designing a payment system compatible with India’s UPI ecosystem, which has since become a dominant force in digital transactions. Apple’s current strategy appears to prioritize card-based contactless payments. Users will be able to add eligible Visa and Mastercard credit cards to Apple Wallet and use their devices for payments at NFC-enabled terminals. The service is expected to roll out in phases, with the first phase focusing on credit card transactions.#apple #mastercard #visa #national_payments_corporation_of_india #pine_labs

Apple Pay India Launch Set for October, No UPI Support Yet Apple is preparing to launch its Apple Pay digital payments service in India by the end of September or October, according to reports from Business Standard. The service will initially support credit cards from Visa and MasterCard but will not include UPI (Unified Payments Interface) transactions at launch. The move marks a significant step for Apple in expanding its presence in India’s digital payments market, which is one of the fastest-growing in the world. The launch is expected to focus on credit card payments, allowing users to store their Visa and MasterCard details in Apple Wallet and make contactless payments using compatible Apple devices. In physical stores, the service will utilize NFC technology to process transactions at POS terminals, similar to how Apple Pay operates in other countries. However, the absence of UPI support at the time of launch is a notable limitation for Indian users, as UPI has become a dominant payment method in the country. Apple’s entry into India’s payments market comes amid ongoing negotiations with major credit card issuers over interchange fees. The company is reportedly seeking 15–20 basis points from each transaction, while some banks have proposed a lower rate of 10 basis points. These fees would be collected by banks from their revenue streams rather than passed on to customers or merchants. The negotiations are part of Apple’s broader strategy to establish a foothold in India’s financial ecosystem. The potential impact of Apple Pay on India’s credit card market is highlighted by Pine Labs’ CEO, Amrish Rau, who noted that credit card transactions have already grown by 10–15 percent.#apple #mastercard #visa #national_payments_corporation_of_india #business_standard

Apple Pay Set to Launch in India by October, Excluding UPI Support Apple Pay, the digital payments service developed by Apple Inc., is preparing for its debut in India, with a planned launch by October 2026. The service will initially support credit cards from Visa and Mastercard but will not integrate with the Unified Payments Interface (UPI), a widely used digital payment system in India. This decision stems from the need for regulatory approval and partnerships with sponsor banks, as UPI transactions require clearance from the National Payments Corporation of India (NPCI) and collaboration with a designated financial institution. The launch of Apple Pay in India marks a strategic move for the tech giant to tap into the country’s premium credit card market. By enabling users to store card details in the Apple Wallet, the service will allow customers to make contactless payments at physical stores via near-field communication (NFC) technology. Additionally, users will be able to use their devices for online transactions. However, the absence of UPI support at launch means that Apple Pay will not compete directly with India’s dominant digital payment platforms, which rely heavily on UPI for instant money transfers. Apple’s entry into the Indian market is also tied to negotiations with major credit card issuers over transaction fees. The company has been seeking a share of the interchange fee, which is the amount merchants’ banks pay to card-issuing banks for processing payments. Sources indicate that Apple has been negotiating for a 15-20 basis points (bps) share of this fee, while some prominent credit card issuers have proposed a lower rate of 10 bps. One basis point equals 0.01%, and the interchange fee is part of the merchant discount rate (MDR), the cost merchants pay for accepting digital payments.#mastercard #apple_inc #visa #national_payments_corporation_of_india #npci

Thomas Cook India Strengthens Foreign Exchange Footprint in Assam with New Guwahati Outlet Mumbai, April 7, 2026: Thomas Cook (India) Limited, a leading omnichannel foreign exchange services provider in India, has expanded its regional presence by inaugurating a new franchise outlet in Guwahati, Assam. This marks the company’s third location in the state, following its existing presence at the Lokpriya Gopinath Bordoloi International Airport (LGBIA). The move aligns with Thomas Cook India’s strategic focus on high-growth markets in the Northeast, where demand for foreign exchange services has surged due to increasing outbound leisure travel, a growing student population, and robust business activity. The Guwahati outlet is positioned to cater to a diverse customer base, including multigenerational families, students, and working professionals, who require access to currency notes, prepaid forex cards, and student remittances. The city’s status as a gateway to Northeast India has further amplified its significance, with approximately 6 lakh passport holders contributing to a substantial and expanding traveler base. The launch of the new terminal at LGBIA is expected to boost international connectivity, further solidifying Guwahati’s role as a key forex market. The outlet offers a range of financial products and services, including prepaid travel cards in partnership with Mastercard and Visa. These include the "Borderless Travel" card, which provides access to 12 global currencies, the "FX Enterprise" card, India’s first eco-friendly forex prepaid card for business travel, and the "Study Buddy" card for overseas education. Additionally, the "Thomas Cook One Currency Card" eliminates cross-currency conversion fees, while the "Send Money Abroad" service covers over 120 countries.#guwahati #mastercard #thomas_cook_india #visa #lokpriya_gopinath_bordoloi_international_airport

SoFi Technologies Expands Digital Payments Partnership with Mastercard, Sparks Growth Potential SoFi Technologies (SOFI) is deepening its involvement in the digital payments sector through a strategic partnership with Mastercard, a move that could position the company for significant growth beyond current market expectations. While the collaboration highlights SoFi’s ambition to expand its financial services offerings, investors are advised to weigh the potential rewards against ongoing challenges such as valuation concerns, market volatility, and underlying risks. The partnership marks a key step in SoFi’s broader strategy to leverage its digital infrastructure and customer base to compete in the evolving financial technology landscape. By integrating Mastercard’s payment solutions, SoFi aims to enhance its capabilities in areas such as digital wallets, cross-border transactions, and financial management tools. This expansion could open new revenue streams and strengthen its position in a market increasingly dominated by tech-driven financial services. However, the stock’s performance remains a point of caution. SoFi has faced scrutiny over its valuation, with some analysts questioning whether its current market price reflects its long-term growth potential. Additionally, the company’s exposure to economic volatility and regulatory risks in the financial sector adds uncertainty to its outlook. Investors are encouraged to approach the partnership with a balanced perspective, recognizing both the opportunities and the challenges that accompany such a strategic move. The deal underscores the growing importance of digital payments in the financial industry, where companies are racing to innovate and capture market share.#stock_performance #sofi_technologies #mastercard #financial_services #digital_payments

SoFi Stock: Ready For A New Leg Up (Rating Upgrade) SoFi Technologies, Inc. (SOFI) has been upgraded to a buy rating as its valuation approaches multiyear lows, despite strong underlying fundamentals and a positive outlook. The stock is positioned to benefit from continued growth in its member and product base, which drove a 37% year-over-year increase in revenue. This growth was further supported by significant margin expansion in the fourth quarter of the previous year. Looking ahead, the company’s fiscal 2026 guidance projects 30% revenue growth and an adjusted EBITDA margin of 34%, with net income margins expected to rise to 18%. These projections highlight the company’s improving profitability and operational efficiency. The upgrade reflects confidence in SoFi’s ability to sustain its growth trajectory while navigating macroeconomic challenges. The CEO’s recent $1 million stock purchase signals personal confidence in the company’s long-term prospects. Additionally, the announcement of a partnership with Mastercard to develop a stablecoin further underscores the company’s strategic focus on innovation and expansion. This collaboration is expected to open new avenues for financial services, particularly in the digital payments and blockchain sectors. The fintech sector continues to evolve, with SoFi positioning itself as a leader in digital banking and financial technology. Its ability to adapt to changing consumer demands and regulatory environments has been a key factor in its recent performance. Analysts suggest that the company’s strong balance sheet and diversified revenue streams provide a solid foundation for future growth. While the stock has faced volatility in recent months, the current valuation levels are seen as attractive for investors seeking exposure to the fintech space.#fintech #sofi #sofi_technologies #mastercard #digital_banking