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Apple has begun rolling out Apple Pay in India in partnership with Axis Bank, but the service is initially limited to eligible Visa and Mastercard cards and does not support the RuPay network. Disputes over fees may delay the participation of HDFC Bank, ICICI Bank, and SBI Card in the rollout.
Indian fintech company Navi has secured a $100 million investment from Prosus in a deal valuing the company at approximately $1.3 billion, as it reportedly prepares for an initial public offering.
British fintech company Revolut has begun making its services available to a limited number of users on a waiting list of about 450,000 people in India, as part of a controlled pilot program ahead of a broader launch. The current phase includes UPI payments, digital wallets and cards, while the company has not set a final date for general availability.