Since the time after demonetization, digital payments in India have been growing rapidly and global technology giant Apple is preparing to bet on the markets here. According to a report, Apple could launch its digital payment solution ApplePay soon in India.
Apple's Senior Vice President Edie Q told in an interview, "We definitely want ApplePay to launch in India." He said that the scheme is currently under implementation, but the date for launching it has not yet been decided.
Technology giant wants to partner with established players like Paytm in India. It is not interested in making a pay platform from ground level here. They said, "There is no plan to come with ApplePay brand new payment vehicle. Platforms like Paytm are doing a great job here. We only want to integrate with the popular platform and will provide our services. This will not only help the company to start its services, but the company will also have a good user base."
Bank and telecom operators have bet on digital payments imposed by many banks and telecom operators after the demonetization of the digital payment business. Recent entries include Airtel Payment Bank, which ensures digital transactions using different means like the Universal Payment Interface (UPI). Speaking of competition, Apple's Direct Competitor Samsung launched it's Digital Payment Solution Samsung Pack in India earlier this year.
Apple Pay service is currently available in 21 countries and it has been presented with limited customized features according to the needs of different countries. Complete Apple Pay Services (Person to Person Payments and Apple Pay Cash) are available in the US only.