Apple Pay Set for India Launch With Axis Bank Partnership

Apple is set to launch Apple Pay in India, beginning with a partnership with Axis Bank, according to PYMNTS. The move marks the debut of the payment service in one of the few major economies where it has not yet been available.

Axis Bank is the first lender in the country to partner with Apple on the platform. The company plans to add more financial institutions over time, mirroring its rollout strategy in other markets.

Apple Pay is currently operating in 89 markets globally. The launch in India follows months of preparation, including talks with card networks and regulatory discussions earlier this year.

The PYMNTS Intelligence report "2023 Global Digital Shopping Index: India Edition" highlights the country’s shift toward digital commerce.

“India is home to a thriving digital economy, and its merchants have quickly adopted a wide array of digital features to meet its digitally savvy shoppers’ expectations,” the report said.

Data from the report indicates that 55% of consumers in India completed their last retail transaction using a digital wallet. Furthermore, 65% of consumers reported utilizing a digital wallet for online shopping, while 39% used one for in-store transactions.