Apple Card and Apple Pay could soon launch in India


Apple Card works hand-in-hand with iPhone
Apple wants to bring Apple Card and Apple Pay to India.
Photo: Apple

Apple is reportedly in talks with HDFC Bank to bring Apple Card to India. The latter is among the country’s largest credit card issuers and private banks.

The Cupertino giant also held discussions with NPCI to launch Apple Pay in the country.

Apple Card and Apple Pay coming to India?

Apple CEO Tim Cook reportedly met HDFC Bank’s CEO and MD Sashidhar Jagdishan during his trip to India in April. The two companies already have close ties, with HDFC offering special discounts on its cards for purchases made on Apple’s online store.

Current banking regulations in India won’t allow the iPhone maker to launch the Apple Card directly. Only banks can offer credit cards, so Apple might have to tie up with HDFC for Apple Card. Seemingly, Apple even had discussions with the Reserve Bank of India about this. However, the regulator has told the company to adhere to the existing rules and regulations and offer a co-branded credit card.

Interestingly, Apple Card has not expanded outside the US since its launch in 2019.

Moneycontrol‘s report also claims Apple held discussions with the National Payments Corporation of India (NPCI). The body manages the Unified Payment Interface (UPI), which is used to carry out billions of transactions every month. It is unclear what these discussions were about.

Apple could integrate UPI in Apple Pay, allowing iPhone users nationwide to make payments by scanning a QR code. However, this behavior would differ from how Apple Pay works in other countries, where you must tap your iPhone against a POS machine.

Digital payments have exploded in India

Digital payments have become commonplace in India, thanks to the widespread adoption of UPI. You can link apps like Gpay or PhonePe to your bank account and pay from your phone by scanning a QR code.

NCPI is also working on adding credit card support to the UPI network, enabling users to pay using their credit cards.


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