Apple Pay Launches in India with Axis Bank Partnership

Editorial Deep Dive & Context

Apple officially launched its mobile payment service, Apple Pay, in India on September 30, 2026, marking the end of years of delays in the world's most populous country. The initial rollout is exclusively partnered with Axis Bank, supporting eligible Visa and Mastercard credit cards issued by the lender. The service enables iPhone, iPad, and Apple Watch users to make secure, contactless payments at physical stores, within apps, and on websites without requiring PINs or OTPs. While Apple claims acceptance by millions of merchants including Zomato, Reliance brands, and Tata 1mg, integration relies on payment service providers like PayU, Cashfree, and Juspay. Unlike India’s dominant state-backed Unified Payments Interface (UPI), which facilitates direct bank-to-bank transfers, Apple Pay operates on a card-based model. This structural difference has complicated negotiations with major lenders; HDFC Bank, ICICI Bank, and SBI Card are excluded from the launch due to disputes over commercial terms, specifically Apple’s demand for a 20 basis point transaction fee. Despite these limitations, the launch targets affluent iPhone users and aims to monetize Apple’s growing Indian smartphone presence, where it held 28% market share by value in 2025

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