Prabhu RamOne of Apple’s biggest services missing from India is Apple Pay, and with rumours of its imminent launch in the news cycle, it only raises hopes for millions of iPhone users. While Apple remains mum on the matter, industry analysts suggest that Apple Pay could kickstart the company’s goals of stepping into India’s vast fintech sector. Expected to make its debut by late September or October, analysts say that Apple wants to target India’s rapidly expanding base of premium smartphone users and credit cardholders.
If the rumour holds truth, Apple Pay will enter a market dominated by the Indian government’s UPI service, which allows for easier digital transactions. Major players like Paytm, PhonePe and Google Pay already dominate major chunks of the market. Where will Apple Pay fit in?
With Apple Pay finally debuting in India, Apple users stand to benefit from Apple’s characteristic simplicity, security, and deep ecosystem integration. Apple Pay could elevate the iPhone experience by bringing a more integrated payments experience to a market that already has one of the world’s most evolved digital payments ecosystems. It is all about making payments a more natural and seamless part of the broader Apple ecosystem.
Prabhu Ram, VP – Industry Research Group, CyberMedia Research (CMR)
Source: Financial Express
