Apple may launch Apple Pay in India to take on Google Pay, Paytm and othersdetails inside

By Ankita ChakravartiAfter Google Pay, Paytm and other payments app, Apple may soon launch Apple Pay in India. The tech giant is reportedly in talks with National Payments Corporation of India (NPCI) to launch a localized version of its digital payments app in the country. Sources have revealed that preliminary talks have taken place, and Apple is now moving forward with the plans.

India has become a crucial market for Apple, and the company is eager to introduce Apple Pay to its Indian customers. The service is expected to allow iPhone users to scan QR codes and make unified payments interface (UPI) transactions, similar to other digital payment apps available in the country. However, both Apple and NPCI have refrained from commenting on these recent developments.

India has created a strong environment for new ideas and inventions, especially with the introduction of UPI, a digital payment system. This has been really helpful for millions of people in the country. In fact, UPI was responsible for a big 75 per cent of all digital transactions in India from 2022 to 2023. Experts predict that by 2026 to 2027, it could reach a staggering one billion transactions every single day. In May alone, the NPCI, which oversees UPI, reported a record-breaking nine billion transactions.

Apple Pay provides a simple, secure, and private method of payment through various Apple devices, including iPhone, iPad, Apple Watch, and Mac. Users can link credit, debit, or prepaid cards from participating banks and issuers, including those in 10 countries across the Asia-Pacific region. Furthermore, Apple recently introduced its Pay Later service in the United States, letting users to split purchases into four interest-free payments without any fees. The Apple Wallet conveniently centralizes tracking, management, and repayment of Apple Pay Later loans.

With Apple’s imminent entry into the Indian digital payments market, consumers can anticipate the convenience and security that Apple Pay offers. The local launch of Apple Pay aligns with India’s growing adoption of digital payment solutions and signifies Apple’s commitment to expanding its services in one of the world’s largest and most dynamic markets.

Apple Pay is a contactless payment method that uses near-field communication (NFC) technology. This means that consumers can make payments by simply holding their iPhone or Apple Watch near a contactless reader. However, one major challenge is the lack of NFC support in most Indian smartphones.