Apple in Talks With ICICI, HDFC & Axis for Payments

• Apple Pay is preparing to launch in India by mid-2026, partnering with major banks and integrating UPI and card payments
• The move targets growth in services and hardware demand in a market of 1.4 billion, where Apple holds about 10% smartphone share
• Biometric authentication aligns with Apple Pay, while India serves as a key manufacturing and retail hub for Apple’s expansion

Apple Inc. is currently working to introduce Apple Pay in India through its talks with key Indian banks, which include ICICI Bank, HDFC Bank, Axis Bank and its partnerships with international payment systems Mastercard and Visa.

Apple is preparing to expand its Apple payment service India through strategic Apple banking partnership deals, including ICICI Apple tie-up, HDFC Apple collaboration, and Axis Bank Apple deal, aiming to strengthen digital payments India, Apple fintech India, and mobile payments India ahead of the Apple Pay India launch and growth of Apple financial services India.

The service is expected to roll out around mid-2026, though timelines remain tentative. The planned entry reflects Apple’s continued push to expand in India, a market of 1.4 billion people with a rapidly growing middle class, where Android devices still dominate but Apple has steadily increased its footprint through manufacturing, retail, and iPhone sales, now accounting for roughly 10% of the smartphone market.

Apple Pay in India is expected to integrate with the Unified Payments Interface (UPI), India’s state-backed digital payments system, alongside traditional card payments. UPI enables instant transfers and bill payments and is the dominant platform in the country’s fast-growing digital payments ecosystem.

Also Read: India Eyes UPI Expansion to More Countries, Focus on East

The recent regulatory shift allowing biometric authentication, such as fingerprint or facial recognition, aligns well with Apple Pay’s reliance on Face ID and Touch ID for secure, in-person, app-based, and online payments.

The launch takes place during a time when established digital payment companies such as Google Pay, PhonePe, Amazon Pay, and domestic fintech leader Paytm continue to compete in the market.

The introduction of Apple Pay enters the market where established digital payment systems compete with Google Pay, PhonePe, Amazon Pay, and Paytm. India offers Apple a major chance to boost its services income and generate hardware sales through its growing base of750 million smartphone users and an increase in mobile payment usage.

Apple uses India as a main site to manufacture products for international markets, while the company extends its retail operations through its new store in Mumbai.  The move demonstrates that India holds crucial value in Apple's worldwide advancement plans.