Apple Pay set to launch in India with Axis Bank today, sources say

Apple plans to introduce Apple Pay in India with Axis Bank as its initial issuing partner, according to TechCrunch. The rollout will be limited: it will support eligible Axis Bank Visa and Mastercard cards but not RuPay, and acceptance will depend on merchants and terminals that have been enabled for the service.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished 2 minutes agoUpdated 2 minutes ago0 views

Apple Pay set to launch in India with Axis Bank today, sources say

Why It Matters

The move brings Apple’s card-based payment system into a market dominated by India’s account-to-account UPI network, creating a new monetization path for Apple via transaction fees while posing integration and commercial challenges for banks and acquirers.

Key Facts

Launch timing: Planned for later Tuesday (source: TechCrunch)
Initial banking partner: Axis Bank
Card networks supported at launch: Visa and Mastercard (eligible Axis Bank cards)
RuPay support: Not supported at launch
Apple's sought fee: About 20 basis points on transactions (per people familiar)

Apple is preparing to roll out Apple Pay in India with Axis Bank as its initial partner, people familiar with the plans told TechCrunch. The debut will be constrained: only eligible Axis Bank cards on Visa and Mastercard will be supported initially, and the service will not work with India’s domestic RuPay network. Merchants and payment terminals must also be enabled to accept Apple Pay, meaning acceptance could be patchy during the early stages.

The Indian payments landscape differs from card-centric markets where Apple Pay is already established. Much of India’s digital payments activity runs over the state-backed Unified Payments Interface (UPI), which enables instant bank-to-bank transfers and QR code payments without relying on cards. Because Apple Pay is card-based and requires issuers plus acquirers or payments providers to integrate, a nationwide rollout will be more complex.

Commercial terms have proven a sticking point with some large Indian banks. Sources told TechCrunch that Apple is seeking roughly 20 basis points per transaction, which would take a meaningful share of the typical 40–50 basis-point margin in the payments layer. HDFC Bank, ICICI Bank, and SBI Card were reported not to be expected to support Apple Pay at launch while negotiations continue.

At launch, eligible Axis Bank customers will be able to add their credit cards to Apple’s Wallet for online purchases and contactless payments at supported terminals. Acceptance may vary by terminal: transactions can succeed on terminals operated by payments providers that have enabled Apple Pay but fail on terminals whose acquiring bank has not adopted the service. The launch is part of broader growth by Apple in India, where the company has been increasing iPhone sales, local manufacturing, and retail presence; Counterpoint Research estimated Apple accounted for 28% of India’s smartphone market by value in 2025.