Fortunately for Apple and India, Apple Pay might be coming to India – according to sources. Apple has been attempting to introduce its Apple Pay payment option in India for some time, but has been unable to effectively negotiate the terms with local authorities.
Further details on India Apple Pay
According to sources close to the situation, Apple is reportedly engaged in negotiations with Indian regulatory organizations, particularly the NPCI (National Payments Corporation of India), a special section of the country’s central bank, the Reserve Bank of India.
The discussions center around the possibility of introducing a localized version of Apple Pay in India, offering consumers the ability to scan QR codes and conduct UPI (Unified Payments Interface) transactions directly through Apple devices, eliminating the need for third-party applications. Furthermore, Apple aims to leverage its Face ID technology to provide secure authentication for UPI transactions.
However, it’s important to manage expectations as the process is still in its early stages. Based on the available information, Apple has not yet entered into discussions with local partners, such as banks, which would be crucial for implementing a successful payment system.
Additionally, the Indian market is currently not a high priority for Apple, as the country’s mobile landscape is dominated by Android devices, which hold approximately 90% market share. This factor contributes to a relatively smaller potential user base for Apple Pay in India compared to other markets.
While the idea of Apple Pay expanding to India is intriguing, it is important to keep in mind that negotiations and market dynamics can change rapidly. As of now, Apple’s focus remains on regions with a larger user base for its products and services. However, given the growth and potential of the Indian market, it’s possible that Apple may explore opportunities to expand its payment services in the country in the future.
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