Apple Pay Launches in India on September 30 With Axis Bank Partnership

Apple Pay arrived in India on September 30, 2026, partnering with Axis Bank to offer contactless payments via iPhone, iPad, and Apple Watch. The service supports eligible Axis Bank Visa and Mastercard credit cards at millions of merchants including Zomato, Blinkit, and Reliance brands. However, the launch excludes India’s homegrown RuPay network and UPI system, limiting its reach in a market dominated by state-backed instant payments.

Why Apple Pay took years to reach India

Apple faced resistance from India’s largest banks over commercial terms. Apple sought a fee of about 20 basis points (0.2%) on transactions, a significant cut from the 40 to 50 basis points (0.4% to 0.5%) margin in the payments layer. HDFC Bank, ICICI Bank, and SBI Card declined to support Apple Pay at launch as negotiations over fees continued, leaving only Axis Bank as the initial partner.

What cards and devices work with Apple Pay in India

Apple Pay supports eligible Axis Bank-issued Visa and Mastercard credit cards only. RuPay cards are not supported at launch. The service runs on iPhone, iPad, and Apple Watch, with Mac support coming soon. Customers can tap to pay in stores, make purchases in apps, and checkout online without entering PINs or OTPs at participating merchants.

Where Apple Pay is accepted across India

Apple said the service would be accepted by millions of merchants across India. Named retailers include Blinkit, Croma, Ixigo, Reliance brands, Tata 1mg, and Zomato. Apple worked with payment service providers including Cashfree, JusPay, Mswipe, Paytm, PayU, Pine Labs, Razorpay, and Worldline to enable acceptance. However, acceptance remains restricted to merchants and payment terminals that have been enabled for the service.

How Apple Pay differs from India’s UPI system

Unlike India’s Unified Payments Interface (UPI), which lets consumers make instant bank-to-bank payments without cards, Apple Pay is card-based and requires individual issuers and payment infrastructure providers to integrate with the service. UPI is not part of Apple Pay’s initial India offering. This makes a broad rollout more complex than UPI’s simpler infrastructure.

Final Thoughts

Apple’s India entry marks a strategic push into the world’s most populous country, but high transaction fees and limited bank partnerships constrain early growth. Meyka rates AAPL a B+ with a 12-month forecast of $350.95, suggesting modest upside from current levels near $333.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.