Apple(US:AAPL) Zhi Tong Cai Jing·2026-02-26 08:07Core Insights - Apple is preparing to launch Apple Pay in India, negotiating with major local banks and global card organizations, aiming for a mid-2026 rollout [1] - The introduction of Apple Pay signifies Apple's expansion into the rapidly growing Indian market, which has a population of 1.4 billion and a burgeoning middle class [1] - Apple Pay in India is expected to support the Unified Payments Interface (UPI) and card-based payments, which dominate the digital payment landscape [1] Group 1 - Apple is in talks with banks such as ICICI Bank, HDFC Bank, and Axis Bank, as well as payment networks like Mastercard and Visa [1] - The Indian digital payment market is one of the fastest-growing globally, driven by over 750 million smartphone users and affordable mobile data [2] - Apple has seen its smartphone market share in India grow to approximately 10%, indicating significant potential for further growth [2] Group 2 - Apple is diversifying its manufacturing base in India to reduce reliance on China, which helps mitigate the impact of tariffs on its home market [2] - The company is rapidly expanding its retail presence in India, recently opening its sixth store in Mumbai [2] - CEO Tim Cook has highlighted the rapid sales growth in India, making it a key lever for overall company growth [2]