Apple Pay Nearing Launch in India after Initial Talks with NPCI

Apple Pay Soon to Arrive in India

Sources have revealed that Apple Pay is on the verge of launching in India, as the tech giant has engaged in initial discussions with the National Payments Corporation of India (NPCI).

The company is actively firming up the talks and preparing for the introduction of its digital payments app in the country. India now holds significant importance on Apple's global map, signaling the company's commitment to expanding its services in the Indian market.

Enhanced Payment Experience for iPhone Users

QR Code Scanning and UPI Transactions

Once Apple Pay is introduced in India, iPhone users will have the convenience of scanning QR codes and performing transactions through the unified payments interface (UPI), similar to other popular digital payments apps.

This feature will enable seamless and secure payments, providing a user-friendly payment experience. Apple and NPCI are yet to provide official comments regarding this development.

Leveraging India's Innovation Ecosystem

UPI's Impact on Digital Transactions

India has established a robust innovation ecosystem, exemplified by the success of the unified payments interface (UPI). This platform has greatly benefited millions of people in the country. In fact, during 2022-23, UPI accounted for 75% of retail digital transactions in India and is projected to reach 1 billion transactions per day by 2026-27. In May, UPI achieved a record 9 billion transactions, according to the NPCI.

Apple Pay's Features and Benefits

Easy, Secure, and Private Payments

Apple Pay offers a convenient, secure, and private way to make payments using iPhone, iPad, Apple Watch, and Mac devices. Users can add credit, debit, or prepaid cards from participating banks and card issuers, including those from 10 countries in the Asia-Pacific region. By leveraging Apple Pay, Indian consumers will gain access to a trusted and seamless payment solution.

Introducing Apple Pay Later Service

Split Payments and Convenient Repayment

Earlier this year, Apple introduced its Pay Later service in the United States, allowing users to split purchases into four payments with zero interest and no fees. With Apple Pay Later, users can easily manage and track their loans in one convenient location within Apple Wallet. This feature may also be made available to Indian consumers, further enhancing their payment options.

Conclusion

Apple Pay is preparing to launch in India following initial discussions with the NPCI. The introduction of Apple's digital payments app will provide Indian iPhone users with the convenience of QR code scanning and UPI transactions, aligning with India's booming digital payments ecosystem. As Apple expands its services in India, customers can expect a seamless, secure, and private payment experience through Apple Pay.