Apple Pay Launches in India, Targeting Credit Card Users Amidst UPI Dominance

Business Standard · business

Apple Pay has officially launched in India, initially supporting Axis Bank Visa and Mastercard credit cards for iPhone, iPad, and Apple Watch users. This move aims to integrate Apple's contactless payment system into a market heavily reliant on UPI and QR codes. India's credit card market is substantial, with over 122 million active cards and significant transaction volumes, showing double-digit growth. Apple Pay seeks to leverage this expanding ecosystem, positioning itself as an interface for existing credit cards, while UPI remains the primary payment method for most transactions.