Apple has been late to the party in India for years, but that’s about to change, with tailor-made products for the country to be announced in the near future.
According to this media report, Eddy Cue, Senior Vice President – Internet services, Apple, has talked about how Apple is changing its view and plans for the Indian market, and they’re most likely to launch Apple Pay in the country.
Interestingly, Eddy referred to digital payment brands like Paytm, and other popular payment options like MasterCard and Visa. This clearly suggests that both Eddy and Apple see Apple Pay in India working with the existing payment platforms, which could also include UPI.
Apple is the latest global brand after Samsung and Google to show its interest in India’s digital payment sector. With the emergence of localised platforms like BHIM which has been built over United Payment Interface (UPI), Apple doesn’t feel the need to apply for a payment license in the country.
The fact that credit cards are doing well here is great. We just need to integrate with the popular ones and make the service availableEddy Cue, SVP - Internet Services, Apple to Livemint
Google’s recent entry in the space with Tez app could have ignited Apple’s intent to launch Apple Pay in India
In many ways, the working of Apple Pay is similar to Samsung Pay via near field communication (NFC), but it must noted that Samsung has localised its payment feature in the country, by allowing it to be scanned for payment through a regular point of sale (POS) terminal.
We’ve already come across new methods of digital payment via mobile that are likely to be made available in the near future.
Having said that, Apple Pay will face challenges in the way the feature is integrated for consumers. Unlike the west, Apple is part of the premium smartphone segment in India, with Samsung being the other brand.
So, if and when Apple brings Apple Pay to India, it remains to be seen how Eddy and Co can localise the payment platform, find partners for payment integration, so as to appeal to iPhone users in the country.
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