The India launch of Apple Pay has been delayed as the company continues talks with major Indian banks over payment commissions. Apple usually charges banks between 0.15 percent and 0.20 percent on every transaction made through Apple Pay in global markets. This is the standard fee in countries where the service is already active.
However, Indian banks are not comfortable with these charges. In India, credit card payment companies work on much lower transaction rates. Most credit card payments happen at around 5 basis points. The gap becomes even bigger because India’s UPI payment system is free for users and merchants. Millions of Indians use UPI daily for shopping, travel, food delivery, and other payments without paying extra charges.
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Indian Banks Resist Higher Commission
Because of this difference, banks feel Apple’s proposed fee is too high for the Indian market. According to bankers, Apple is asking for almost three to four times the current transaction cost in India. Despite the disagreement, discussions are still continuing between Apple and leading Indian lenders.
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Apple Talks With Major Indian Banks
According to reports, Apple is currently in talks with ICICI Bank, HDFC Bank, and Axis Bank for the possible rollout of Apple Pay in India.
The company is reportedly targeting a launch sometime between mid and late 2026 if negotiations move forward successfully.
