Apple’s digital payment service, Apple Pay, may soon be launched in India. The company is in talks with global card networks like Mastercard and Visa, and is also working on getting regulatory approval. If everything goes as per plan, Apple Pay will be launched in India this year. Apple Pay is already operational in 89 markets around the world and is now trying to make its way into India.
Card payments will be launched first
According to media reports, Apple will launch its service in India in phases. In the first phase, focus will be on card-based contactless payment. Once the rollout is complete, it can be integrated with UPI (Unified Payments Interface). For this integration the company will have to take separate approval. According to sources, Apple will not apply for Third-Party Application Provider (TPAP) license for UPI. The special thing is that Apple’s competitor, Samsung, is already running its digital payment platform, Samsung Wallet in India. This platform, launched in 2022, now also offers the option of UPI. This move has helped Samsung strengthen its position in India’s digital payments market.
What are the benefits of Apple Pay?
Apple Pay is operated by Apple’s subsidiary company Apple Payment Services. After its launch, users will be able to store their debit and credit card information in Apple Wallet. With this, they will be able to make payments easily by tapping their Apple device near the Point of Sale (PoS) machine. Currently, cards issued in India cannot be added to Apple Wallet. It is worth noting that Apple’s interest in India has increased significantly in recent times. The company is continuously strengthening its position in the Indian smartphone market and is now one of the top five phone selling companies in the country.
