Mastercard in Talks to Support Apple Pay Launch for 1.4B Indian Users
Apple has held discussions with Mastercard and Visa to integrate Apple Pay with India’s Unified Payments Interface, engaging ICICI Bank, HDFC Bank and Axis Bank for local support. This rollout could drive incremental transaction volume on Mastercard’s network as Apple boosted India iPhone assembly by 53% to 55 million units in 2025.
1. Talks to Integrate Mastercard with Apple Pay in India
Apple has initiated discussions with Mastercard to integrate Apple Pay into India’s payments infrastructure, aiming to support the Unified Payments Interface and expand its digital wallet offerings alongside Visa.
2. Partnership with ICICI, HDFC and Axis Banks
The company is negotiating with ICICI Bank, HDFC Bank and Axis Bank to onboard local issuers, which would enable Apple Pay users to link their existing accounts for seamless domestic and cross-border transactions.
3. Indian Market Opportunity and UPI Adoption
India’s digital payments market serves over 1.4 billion people and processes billions of daily UPI transactions, creating a significant opportunity for Apple Pay to capture share from platforms like Google Pay and Amazon Pay.
4. Impact on Mastercard Transaction Volumes
If launched, Apple Pay is expected to generate substantial incremental volume on Mastercard’s network, coinciding with Apple’s 53% increase in India iPhone assembly to 55 million units in 2025, which will drive consumer transaction activity.