Apple Pay finally came to India, but limitedly

Apple Pay started to open India market by making long-awaited entries. Providing one of the biggest markets of global payment system is an important step in terms of the spread of mobile payments. But Apple’s first stage is understood that it prefers a limited strategy.

• Axis Bank partnership: Apple Pay currently supports only cards issued by Axis Bank
• India market: A growing market of demand for more than 1,4 billion inhabitants and digital payment services
• Constant expansion: Possible to expect the support of other bank and payment providers in the future
• Mobile wallet preferences: There are already strong presence of local services such as Google Pay and Paytm in India

This limited start shows that Apple should act in the framework of local banking regulations and business partnerships. The agreement with Axis Bank can be evaluated as a pilot project that can open the way of negotiations with other financial institutions. Apple is trying to reach a strong position in markets where growing rapidly and mobile payment habits are common.

This move of the company is part of Apple Pay’s global footprint expansion strategy.