Apple has been looking forward to launching its payment feature called Apple Pay in India for a long time now.
As per GSMArena, Apple is planning to hold talks with the local regulatory bodies, specifically, the NPCI - a special division of India's central bank - Reserve Bank of India.
Apple Pay would be entering into a hyper-competitive segment with players like PhonePe, GooglePay, WhatsAppPay, and Paytm, among others.
According to news agency ANI, Tim Cook reportedly met with Indian authorities to negotiate a localized version of Apple Pay - customers to be able to scan QR codes and initiate UPI transactions without using third-party apps. Apple also wants users to confirm UPI transactions using the Face ID feature.
However, Apple hasn't entered negotiations with local partners (banks) yet.
In March, Apple introduced "Apple Pay Later," a buy now pay later service, but only for select customers in the US.
First announced at the WWDC last year, Apple Pay Later lets users split the cost of an Apple Pay Purchase into four equal payments over six weeks, and there is no interest or late fees.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Apple's Affordable Vision Pro Delayed Beyond 2027, to Get an M5 Upgrade Next Year: Ming-Chi Kuo Apple M4 Max, M4 Pro Spotted on Geekbench With Big Improvements Over Their M3 Counterparts Apple MacBook Pro With New Design, M6 Chip, Improved Display to Launch in 2026: Report Spoke Of Reunification Under India: Sources On Lalduhoma's Viral Old Speech Explained: Sunita Williams Experiences 16 Sunrises And Sunsets Every Day US Election 2024: Donald Trump Leads Kamala Harris In All Swing States North Korea Fires Another Ballistic Missile Ahead Of US Election What If The US Election Ends In A Trump-Kamala Harris Tie? Abortion Rights Issue Influencing Indian American Women's Voting Preference Track Latest News Live on NDTV.com and get news updates from India and around the world.