Apple Pay Reportedly Set for India Launch in September-October

Apple Pay is poised for a launch in India by the end of September or October, according to reports, marking the iPhone maker's entry into the country's premium credit card market.

The service is anticipated to initially support credit cards issued on global payment networks such as Visa and Mastercard. Integration with India's Unified Payments Interface (UPI) is not expected at launch, as it requires approval from the National Payments Corporation of India (NPCI) and a partnership with a sponsor bank.

Apple has been in discussions with major Indian credit card issuers regarding transaction fees. Reports suggest Apple is seeking a 15-20 basis point share of interchange fees, while some issuers have proposed a lower rate of around 10 basis points.

The rollout is expected to be phased, with the initial focus on card-based contactless payments. Users would be able to add eligible credit or debit cards to their Apple Wallet and make payments at NFC-enabled point-of-sale terminals using an iPhone or Apple Watch.

This potential launch follows Apple's expressed interest in bringing the service to India nearly a decade ago. Previous plans encountered regulatory and technical challenges, including issues with data localization requirements and UPI ecosystem integration.