Apple Prepares to Bring Apple Pay to India

Core Insights - Apple is planning to launch Apple Pay in India within the year, engaging in discussions with card networks like Mastercard and Visa while seeking regulatory approval [1][2] Group 1: Launch Strategy - Apple is negotiating fee structures with card issuers for access to its payment gateway, which is already operational in 89 markets [3] - The launch will occur in phases, starting with card-based contactless payments, followed by potential integration with India's Unified Payments Interface (UPI) [3][4] Group 2: Market Context - The Indian market is becoming increasingly competitive for mobile wallets, with Apple facing challenges from other providers [4] - A report indicated that while Apple Pay's usage is increasing, it is not keeping pace with the overall growth in mobile wallet usage, suggesting a widening field for competitors [5][6] Group 3: Competitive Landscape - Apple Pay's share of eligible in-store transactions rose to 10.2%, up from 8.9% the previous year, with annual in-store sales volume reaching an estimated $450 billion [6] - Competitors like Google Pay, PayPal, and Cash App have also seen significant user growth, indicating a narrowing gap in overall adoption [7]