Market Chatter: Apple Pay Targets India Debut With Axis Bank

MT Newswires Live09-18 16:18

Apple (AAPL) is set to launch Apple Pay in India next month in collaboration with Mumbai-based Axis Bank's credit cards, Reuters reported Friday, citing three sources familiar with the matter.

The iPhone maker is also in talks with Axis Bank's larger private sector competitors, HDFC Bank and ICICI Bank, for the rollout of its digital wallet service. However, they are yet to reach commercial terms, the media outlet added.

Apple's payment service would allow Indian iPhone users to make contactless purchases using tokenized card information stored on their devices, Reuters reported.

Apple, Axis, HDFC and ICICI did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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