The specifics of these discussions remain unclear. MoneyControl notes that it is uncertain whether the talks involve integrating the Apple Card with NPCI’s Rupay platform or the Unified Payments Interface (UPI). Rupay Credit Card integration would offer the advantage of seamless linkage to UPI, which allows customers to make quick payments by scanning QR codes with their mobile phones. In India, only banks are currently permitted to launch credit cards, making collaboration with HDFC Bank and the Reserve Bank of India (RBI) crucial for Apple’s entry into the Indian credit card market.
While Apple has been increasingly focused on India, as evident from its plans to shift its supply chain to the country, it is unlikely to sever ties with one of its largest markets, China. Although the transition of Apple’s supply chain to India will take time to finalize, recent establishment of Apple Stores in the country suggests continued investment in the Indian market. However, with no imminent signs of Apple Pay launching in India, it might seem premature for the company to prepare for the release of the Apple Card.
