Apple Pay is now available in India, extending the tech giant’s payment service to iPhones, Apple Watches, and iPads. Support for Macs is anticipated to follow, though a specific timeline hasn’t been announced.
A Different Approach to India’s Crowded Payments Market
The launch places Apple Pay in a highly competitive landscape dominated by Unified Payments Interface (UPI)-based apps. Notably, WhatsApp has struggled to gain significant traction in India’s payments sector despite boasting over 400 million users in the country.
Unlike many competitors, Apple is not expected to heavily rely on cashbacks and promotional offers to attract users. Instead, the company plans to focus on expanding its ecosystem and capitalizing on its existing customer loyalty.
Ecosystem and Premium Users are Key
Tarun Pathak, Research Director at Counterpoint Research, explained to TelecomTalk that Apple’s strategy centers on strengthening its ecosystem. He said the service adds another layer to that ecosystem with a focus on privacy, security, and a seamless user experience. Pathak also noted that merchants will gain access to a user base with potentially higher spending power, a benefit that will likely increase 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 further banking integrations in the coming weeks, broadening access to the service for a wider range of customers.
