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Apple Pay Arrives in India: Axis Bank First Partner, UPI Excluded
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CNBC TV18•30-09-2026, 07:47
Apple Pay Arrives in India: Axis Bank First Partner, UPI Excluded
- •Apple Pay has launched in India, with Axis Bank as its initial banking partner, over a decade after its US debut.
- •The service works on iPhone, iPad, and Apple Watch, enabling secure payments in stores, apps, and online without PINs or OTPs.
- •Only eligible Axis Bank credit cards on Visa or Mastercard are supported; India's domestic RuPay network and UPI are not included.
- •The Reserve Bank of India's allowance for biometric authentication on card payments paved the way for Apple Pay's launch.
- •Apple Pay uses a unique Device Account Number for transactions, ensuring card details are not shared with merchants, prioritizing security and privacy.
Key Questions Answered
Axis Bank serves as Apple Pay's first banking partner in India, supporting eligible credit cards on the Visa and Mastercard networks.
Apple Pay does not support UPI at launch because it is strictly card-based, and offering UPI would require approvals from the NPCI and a sponsor bank.
Apple is seeking approximately 20 basis points, or 0.2%, per transaction from partner banks, which has become a commercial sticking point during negotiations.
