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Can Apple Pay Win in the Indian Market? - Indian Startups News 333 Analytics Table

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https://bit.ly/finanjo - šŸ“² Download Finanjo to get a loan against mutual fund starting at just 9.49% per annum. 00:00 Intro 01:13 Apple Pay in India 05:33 Elon Musk's India Problem 07:10 Quick news items 09:04 Funding news Apple has finally announced that Apple Pay is coming to India, a decade after Tim Cook first visited in 2016 to explore a launch. But the India of 2026 is very different from the India of 2016. In this week’s episode of our Indian startups news show, we ask: is Apple Pay too late to enter India? Why Apple Pay faces an uphill battle Apple Pay launched in the US in 2014 by building on the existing card ecosystem, letting people pay by tapping their iPhone. India, however, is a different market, mainly because of UPI, which also launched in 2016. UPI now accounts for around 85% of India’s digital payment transaction volume, and India leads the world in digital payment volumes. Apple Pay also solves a problem Indians don’t really have. Fewer than 5% of Indians have a credit card, while QR codes are accepted everywhere, from kirana stores to roadside stalls to large retailers. Merchants don’t need expensive NFC-enabled POS machines either. The launch is also very limited. For now it supports only Axis Bank Visa and Mastercard credit cards. Users need an iPhone, an eligible credit card, and a merchant with a contactless terminal, so well under 1% of consumers and merchants may be able to use it. Still, Apple may be targeting only the premium top 1–2% of customers. India’s credit card market is growing fast: according to RBI, credit card spending rose from about ₹8.9 lakh crore in 2021 to ₹23.2 lakh crore in 2025, while debit card volumes fell sharply because of UPI. Pine Labs CEO Amrish Rau believes Apple Pay could nudge some transactions back towards credit cards. So Apple Pay isn’t trying to replace UPI, just to make credit cards more convenient for Apple’s premium users. Starlink vs Mukesh Ambani Elon Musk has publicly attacked Mukesh Ambani over Starlink’s lack of an Indian licence, asking whether Ambani is ā€œthe real boss of India.ā€ The government rejects the allegation, saying its satcom framework is fair and that Starlink, Reliance Jio and Airtel-backed OneWeb are all undergoing security assessments at broadly the same stage. The dispute traces back to 2024, when Reliance wanted satellite spectrum auctioned and Musk opposed it. We’ll be watching whether the government now moves quickly, and how Starlink’s pricing compares with Jio and Airtel. Quick news UPI MDR rollout: It may be pushed to January 2027 after retailer pushback, with the festive season approaching and smaller merchants at risk of disruption. Swish Go: Quick food delivery startup Swish has launched Swish Go, letting users order from third-party restaurants and compete directly with Zomato and Swiggy. It follows a recent $24 million raise. Flipkart ESOPs: Former Flipkart executives Mukesh Bansal and Ankit Nagori have asked Walmart to buy back their vested ESOPs amid IPO uncertainty. Walmart says an IPO remains part of its roadmap, while Flipkart has reportedly pushed it to 2028. Funding news Indian startups raised $111 million this week, down from $390 million last week. Dailyobjects: about $34.4 million Lumio: $12 million Beyond Appliances: ₹110 crore (about $11 million) Sponsored by Finanjo Get a loan against mutual funds for as little as 9.49%. Download the Finanjo app using the link in the description. What do you think about Apple Pay’s prospects in India? Will iPhone users actually use it? Let us know in the comments, and subscribe to Backstage with Millionaires for your weekly dose of Indian startup news.

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