Apple Negotiates India Payment Service, AXQ Capital Sells 83.4% Stake
VV•
Apple is in discussions with multiple Indian banks to establish an in-country payment service, which could reduce Visa’s transaction volumes in a major growth market. Meanwhile, AXQ Capital LP cut its Visa position by 83.4%, selling 4,517 shares and now holds 898 shares after the third quarter.
1. Apple’s India Payment Service Talks
Apple is negotiating with several Indian banks to develop a domestic digital payments platform. The initiative aims to process transactions locally, potentially bypassing international card networks like Visa and reducing cross-border fees.
2. AXQ Capital’s Stake Reduction
AXQ Capital LP sold 4,517 shares of Visa during the third quarter, trimming its position by 83.4%. The fund now holds 898 shares, significantly cutting its exposure to the credit-card processor.
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Sources
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