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Apple Pay has officially launched in India, bringing the tech giant’s payment service to iPhones, Apple Watches, and iPads. Support for Macs is expected to follow, though a timeline has not been specified.
A Competitive Landscape
The launch places Apple Pay into a highly competitive market already dominated by numerous payment applications built on the Unified Payments Interface (UPI). Notably, WhatsApp has found it difficult to gain significant traction with its own payments service despite boasting over 400 million users in India, according to company data.
Unlike many competitors, Apple is not expected to rely heavily on cashbacks and promotional offers to attract users. Instead, the company intends to leverage its established ecosystem to drive adoption.
Ecosystem Focus and Premium Users
Tarun Pathak, Research Director at Counterpoint Research, told TelecomTalk that Apple’s strategy is less about direct competition and more about strengthening its ecosystem. Pathak believes Apple Pay offers “privacy, security and seamless experience,” and that merchants will benefit from access to a “premium user pool with possible high spending power.” He anticipates further growth as Apple onboards more banking partners.
Currently, Axis Bank is the only banking partner integrated with Apple Pay in India. However, Apple is expected to add more banks in the coming weeks, expanding access to the service for a wider range of customers.
