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What is the story about?
Apple Pay has officially launched in India, nearly 12 years after its US debut, but the service is entering the market without support for UPI.
At launch, Apple Pay works only with Visa and Mastercard credit cards issued by Axis Bank. Debit cards, RuPay cards and cards issued by other banks are not supported yet.
Speaking to CNBC-TV18, Apple said it wants to expand the service in India and is open to supporting UPI in the future. “UPI is a fantastic product. We would love to support it one day,” Apple said.
Read more: Apple Pay vs UPI: How Apple's new payment service compares in India
For now, the two payment systems remain separate. Apple said UPI is a bank-account-based payment method, while Apple Pay works with network-based cards.
The distinction matters in a market where UPI has already achieved significant scale. UPI processed 24.51 billion transactions worth ₹29.82 lakh crore in August 2026, according to NPCI data.
More banks could follow
Apple said Axis Bank is its first banking partner in India and that it wants to work with more banks, although it did not disclose any names or timelines.
“We are excited to work with Axis Bank; would love to start the conversation with other banks in due course of time, but can’t share more details now.”
Apple Pay can be set up through the latest Axis Bank app or directly through Apple Wallet. Users can make contactless payments in stores using an iPhone or Apple Watch, while online and in-app purchases can be made with Apple Pay for faster checkout.
The service requires an iPhone XR or later running iOS 18 or an Apple Watch Series 6 or later. Apple is also working with payment companies including Razorpay, Paytm, PayU, Pine Labs, Cashfree and JusPay to expand merchant acceptance.
Credit cards are the key proposition
Unlike UPI, Apple Pay’s India proposition is currently built around credit cards. Users can continue to access applicable card rewards and benefits while paying through Apple Pay.
Apple said consumers and merchants do not pay a fee for using Apple Pay, while banks pay a fee associated with the service.
Security is another part of Apple’s proposition. Card numbers are not stored on the device or Apple’s servers and are not shared with merchants. Instead, Apple Pay uses a unique Device Account Number stored in the device’s Secure Element.
Apple also said it has reduced fraud by more than $1 billion through Apple Pay.
For now, the biggest gaps are clear: limited bank support, no RuPay or debit card support and no UPI integration. Apple said its broader goal is to bring Apple Pay to more users in India, but it has not provided a timeline for these expansions.
At launch, Apple Pay works only with Visa and Mastercard credit cards issued by Axis Bank. Debit cards, RuPay cards and cards issued by other banks are not supported yet.
Speaking to CNBC-TV18, Apple said it wants to expand the service in India and is open to supporting UPI in the future. “UPI is a fantastic product. We would love to support it one day,” Apple said.
Read more: Apple Pay vs UPI: How Apple's new payment service compares in India
For now, the two payment systems remain separate. Apple said UPI is a bank-account-based payment method, while Apple Pay works with network-based cards.
The distinction matters in a market where UPI has already achieved significant scale. UPI processed 24.51 billion transactions worth ₹29.82 lakh crore in August 2026, according to NPCI data.
More banks could follow
Apple said Axis Bank is its first banking partner in India and that it wants to work with more banks, although it did not disclose any names or timelines.
“We are excited to work with Axis Bank; would love to start the conversation with other banks in due course of time, but can’t share more details now.”
Apple Pay can be set up through the latest Axis Bank app or directly through Apple Wallet. Users can make contactless payments in stores using an iPhone or Apple Watch, while online and in-app purchases can be made with Apple Pay for faster checkout.
The service requires an iPhone XR or later running iOS 18 or an Apple Watch Series 6 or later. Apple is also working with payment companies including Razorpay, Paytm, PayU, Pine Labs, Cashfree and JusPay to expand merchant acceptance.
Credit cards are the key proposition
Unlike UPI, Apple Pay’s India proposition is currently built around credit cards. Users can continue to access applicable card rewards and benefits while paying through Apple Pay.
Apple said consumers and merchants do not pay a fee for using Apple Pay, while banks pay a fee associated with the service.
Security is another part of Apple’s proposition. Card numbers are not stored on the device or Apple’s servers and are not shared with merchants. Instead, Apple Pay uses a unique Device Account Number stored in the device’s Secure Element.
Apple also said it has reduced fraud by more than $1 billion through Apple Pay.
For now, the biggest gaps are clear: limited bank support, no RuPay or debit card support and no UPI integration. Apple said its broader goal is to bring Apple Pay to more users in India, but it has not provided a timeline for these expansions.
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