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Apple Pay launches in India with Axis Bank credit cards; UPI and RuPay excluded
Our read
Apple Pay initially reshuffles premium card checkout in India more than it expands retail spending; issuer breadth and reliable acceptance determine the next leg.
For operators
Assess Apple Pay acceptance for eligible Axis Bank Visa and Mastercard credit cards while preserving UPI and RuPay checkout options, which this launch does not support.
Watch
Additional issuers going live, with confirmed card eligibility rather than partnership announcements alone.
The report,
Apple launched Apple Pay in India with Axis Bank, which had 16.26 million active cards in July. Only eligible Visa and Mastercard credit cards work; UPI and RuPay are unsupported, and merchant acceptance may be uneven.
- Axis Bank active cards, July
- 16.26 million active cards
Channel facts
From the report. Source details below
| Apple Watch Series | 6 or later |
|---|---|
| roughly 40 to | 50 basis points |
Also in the report
- 24.51 billion transactions
Other figures
- iOS 18 or later
- watchOS 11 or later
- about 84%
- about 20 basis points
What it means for online and offline
Explore issuer and merchant-acceptance partnerships around Apple Pay, but gate expansion commitments on confirmed bank onboarding and evidence of customer adoption.
Signals to track
- Official inclusion of UPI or RuPay, which would materially change the addressable market.
- Successful transaction rates across stores, apps and websites where support is offered.
- Repeat usage after launch incentives expire, separated from initial card provisioning.
- Checkout conversion gains among eligible shoppers versus simple migration from existing card payments.
- Merchant expansion beyond premium retail into broader categories and locations.
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Axis is likely to promote eligible-card provisioning and first transactions, potentially using targeted incentives.
- Premium and iPhone-heavy retailers are likely to test acceptance, checkout placement and staff readiness before broader investment.
- Merchants will likely preserve UPI and existing card flows rather than redesign checkout around Apple Pay.
- Other issuers are likely to assess participation against active usage and retention, not launch publicity alone.
The counter-case
The case against this reading — not reported by the source.
This could be a niche checkout addition rather than a meaningful omni-channel shift. Restricting eligibility to Axis Bank Visa and Mastercard credit cards, excluding UPI and RuPay, and uneven merchant acceptance could sharply constrain reach. Existing card payments may simply migrate to Apple Pay without generating incremental sales or materially improving conversion.
The source
Published
Also reported by Business Standard, Financial Express, YourStory, Indian Retailer, Entrackr, NDTV Profit, Business Today, Medianama, Moneycontrol, Hindustan Times
First seen