Mumbai, India: Apple said Wednesday it had rolled out its payment service in India as it looks to grab a slice of the lucrative digital payments market in the world's most populous country.
More than 80 percent of India's digital payments are handled through the homegrown United Payments Interface (UPI).
The UPI is the largest real-time payment system in the world by volume, according to the IMF, while apps from Walmart-owned PhonePe, Alphabet's Google Pay and local rival Paytm dominate in India.
The launch of Apple Pay comes through a partnership with Axis Bank, India's third-largest private lender.
Axis Bank customers can store their credit cards on Apple Wallet and then use their iPhones or Apple watches to make payments at "thousands of in-store and online merchants across India", the US firm said in a news release.
Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said the company was excited to bring its service to users in India, "home to a dynamic and digitally savvy population that continues to embrace a cashless future".
While the vast majority of Indian customers prefer cheaper Android smartphones, a growing number of affluent consumers are snapping up iPhones.
Apple shipped more than 14 million units in 2025, according to TechCrunch publication.
The US tech giant has also sought in recent years to make India a key manufacturing and export hub for its products, as it seeks to reduce its dependence on China.
India accounts for roughly 25 percent of global iPhone output, according to local reports.
Apple Pay's rollout also comes as India's government allows banks and payment apps to charge merchants a small fee on larger UPI transactions after six years of free use.
The government says the move, announced this month, is necessary to sustain the digital infrastructure.
