Apple Pay India launch: Axis Bank cards targeted for October
Apple Pay is poised to launch in India as early as October 2026, beginning with credit cards issued by Axis Bank, as reported by Reuters. Apple is also in discussions with HDFC Bank and ICICI Bank, although commercial terms have not yet been finalised. Apple and the three banks did not confirm the planned launch to Reuters.
Apple Pay India launch starts with cards, not UPI
Apple Pay is Apple’s mobile payment service. It was launched in the US in October 2014, initially allowing users to make contactless payments with compatible iPhones and Apple Watches. Since then, Apple has expanded the service across major markets in Europe, Asia-Pacific and the Middle East.
Apple said in January 2026 that Apple Pay was available in 89 markets, supported by more than 11,000 banks and network partners and more than 20 local payment networks. The company also said the service generated more than $100 billion in incremental merchant sales globally during 2025 and helped eliminate more than $1 billion in fraud. These figures are based on Apple and industry data.
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What Apple Pay’s India launch means
India, however, presents a very different payments landscape. Apple Pay will enter a market dominated by the Unified Payments Interface (UPI), which has become the backbone of everyday digital transactions. UPI processed 24.5 billion transactions worth ₹29.82 lakh crore in August 2026, accounting for 84% of India’s digital payment volumes and around 49% of global real-time payment volumes, according to official data cited by Reuters.
More than 550 million users were using UPI, while PhonePe and Google Pay together accounted for about 80% of UPI transaction value in August.
Apple’s initial strategy therefore appears focused on the country’s credit-card ecosystem rather than directly competing with UPI. The first rollout would involve Axis Bank credit cards, while Apple continues discussions with HDFC Bank and ICICI Bank. Axis Bank is India’s fourth-largest credit-card issuer.
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