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
