Apple Plans Apple Pay Launch in India with UPI, Biometric Auth by Mid-2026
Apple is holding talks with ICICI, HDFC and Axis Banks and card networks to launch Apple Pay supporting UPI with biometric authentication by mid-2026. Ballentine Partners raised its stake by 1.2% to 372,367 shares while Avant Financial Advisors cut holdings by 16.4% to 12,668 shares.
1. Talks with Indian Banks
Apple is in discussions with ICICI Bank, HDFC Bank and Axis Bank and card networks including Mastercard and Visa to bring its Apple Pay service to India, targeting a mid-2026 launch as negotiations progress.
2. UPI and Biometric Support Benefits
The planned launch will incorporate India’s Unified Payments Interface for real-time fund transfers and merchant transactions, leveraging the Reserve Bank’s new biometric authentication rules to enable secure Face ID and Touch ID approvals.
3. Ballentine Partners Stake Increase
In the latest filings, Ballentine Partners LLC boosted its holdings in Apple by 1.2%, increasing its position to 372,367 shares, reflecting continued confidence in the iPhone maker’s growth prospects.
4. Avant Financial Advisors Trims Position
Avant Financial Advisors LLC reduced its Apple stake by 16.4%, selling 2,490 shares to hold 12,668 shares, representing 2.4% of its portfolio, signaling a shift in allocation strategy.