Apple’s digital wallet could soon tap into one of the world’s busiest payment markets.
The tech giant is in discussions with leading Indian banks as it prepares what could become the biggest expansion of Apple Pay since the service launched in 2014. According to a Bloomberg report, the iPhone maker is in talks with ICICI Bank, HDFC Bank, and Axis Bank to introduce Apple Pay in India around mid-2026.
India has quickly become one of the most important digital payments markets in the world. With more than 750 million smartphone users and affordable mobile data, mobile transactions have become a daily habit for millions.
New payment rules open doors
A key factor behind the timing could be regulatory changes.
The Reserve Bank of India recently introduced new rules allowing biometric authentication, including fingerprint and facial recognition, for digital payments. Previously, most transactions relied on one-time passwords sent via text message. That shift aligns closely with how Apple Pay works globally, using Face ID or Touch ID for secure approvals.
To ensure a smooth rollout, Apple is reportedly in talks with global giants Mastercard and Visa to make the service work across both international card networks and India’s homegrown Unified Payments Interface (UPI), which currently dominates the local market.
If launched, Apple Pay would enter a highly competitive space. Major players already operating in India include Alphabet Inc.’s Google Pay, Amazon.com Inc., Walmart Inc.-backed PhonePe, and local firm Paytm. Bloomberg reported that shares of Paytm’s parent company fell following news of Apple’s talks, signaling investor sensitivity to potential new competition.
Still, Apple’s presence in India has been steadily growing. The company now holds roughly 10% of the country’s smartphone market, according to reports, leaving significant room for expansion.
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Manufacturing and market momentum
India is also becoming central to Apple’s supply chain strategy. The company has been expanding iPhone production in the country, exporting devices to the United States as part of efforts to diversify manufacturing beyond China.
Chief Executive Officer Tim Cook has repeatedly highlighted India as a key growth market for Apple, noting strong sales momentum in recent quarters.
If Apple Pay launches as expected, it would represent not just a new feature for Indian users, but one of the largest expansions in the service’s history, reinforcing Apple’s deeper commitment to one of the world’s most important tech markets.
For more on Apple’s expanding regulatory playbook, read how it’s rolling out a new age verification API to meet global compliance demands.