Sources: Apple plans to launch Apple Pay in India next month with Axis Bank's credit cards; Axis Bank is the fourth-largest credit card issuer in India

Apple Pay support begins for Axis Bank credit card holders next month.

Apple is preparing to launch Apple Pay in India as early as next month, according to three sources with knowledge of the matter. The initial rollout will support credit cards issued by Axis Bank, India's fourth-largest credit card issuer. This move marks Apple's entry into one of the world's largest digital payments markets. Further details regarding the precise launch date and the full scope of supported cards have not yet been disclosed.

Apple's entry into India with Apple Pay signifies a significant expansion for the digital wallet service into a rapidly growing mobile-first market. The partnership with Axis Bank, a major credit card issuer, suggests a strategic approach to gaining immediate traction. This move could intensify competition in India's burgeoning digital payments sector, which has seen substantial growth driven by UPI and other mobile payment solutions.

The launch is expected to benefit Apple users by offering a new, potentially seamless payment method, and may encourage wider adoption of contactless payments. For Axis Bank, the partnership offers an opportunity to enhance its digital offerings and attract Apple's affluent customer base. It will be crucial to observe how Apple Pay integrates with existing payment infrastructures and user habits in India.