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Apple to Launch Apple Pay in India
India has become an important market for Apple, and the company is eager to introduce Apple Pay to its Indian customers.
After Google Pay, Paytm and other payment apps, Apple may soon launch Apple Pay in India. The tech giant is reportedly in talks with the National Payments Corporation of India (NPCI) to launch a localized version of its digital payments app nationwide. Sources have revealed that preliminary talks have taken place, and Apple is now moving forward with the plans.
India has become an important 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 perform Unified Payment Interface (UPI) transactions, similar to other digital payment apps in the country. However, Apple and NPCI have refrained from commenting on these recent developments. India has created a robust environment for new ideas and inventions, especially with the introduction of UPI, a digital payment system. This has been useful for millions of people in the country. UPI was responsible for a whopping 75 per cent of all digital transactions in India between 2022 and 2023. Experts predict that by 2026 and 2027, it could reach a staggering 1 billion daily transactions. In May alone, the NPCI, which oversees UPI, reported a record nine billion transactions.
Apple Pay provides a simple, secure, and private payment method across multiple Apple devices, including iPhone, iPad, Apple Watch, and Mac. Users can link credit, debit, or prepaid cards from participating banks and issuers, including ten countries in the Asia-Pacific region. In addition, Apple recently introduced its Pay Later service in the United States, which allows users to split purchases into four payments with no interest and no fees. Apple Wallet conveniently centralizes the tracking, management, and payment 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 the growing adoption of digital payment solutions in India. It represents Apple's commitment to expanding its services in one of the largest and most dynamic markets in the world.
