Apple Pay will be launched in India next month in partnership with Axis Bank, according to a report citing three sources familiar with the matter. Apple’s payments service will initially only support Axis Bank credit card transactions, the report further highlighted. Apart from the Mumbai-based financial institution, Apple is said to be in talks with other major banking and financial institutions in India, including HDFC Bank and ICICI Bank. However, the report claims that neither of the latter banks has accepted the commercial terms offered by Apple. Further, the tech giant reportedly plans to add more lenders in the future via “direct, bank-by-bank deals”, similar to the phased rollout strategy it adopted for other markets.
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