Apple Pay to launch in India next month with Axis Bank- report
Source: Electronic Payments ·
Axis Bank is the fourth-largest credit card issuer in the country.
From the source
Apple Pay allows iPhone users to make contactless in-store and online payments. Credit: Thrive Studios ID / Shutterstock.com. Apple is preparing to launch Apple Pay in India next month through a partnership with private sector lender Axis Bank. The planned rollout will initially support Axis Bank credit cards, Reuters reported citing sources familiar with the matter. The launch will give the US technology company access to one of the world’s largest digital payments markets. Electronic Payments International has contacted Axis Bank for confirmation. Axis Bank is India’s fourth-largest credit card issuer, with 16.26 million active credit cards in July, the news agency reported citing Reserve Bank of India (RBI) data. The lender trails HDFC Bank, SBI Cards, and ICICI Bank in total card issuance. Apple has also held talks with HDFC Bank and ICICI Bank to expand the service. However, the parties have yet to finalise commercial terms, the sources told Reuters. Apple Pay allows iPhone…