Global tech giant Apple Inc. is eyeing a portion of India’s rapidly booming digital payments business and may introduce Apple Pay service in the future. Even, the iPhone manufacturer looks to boost its presence in India, where it already has a manufacturing facility.
In an interview Apple at Hyderabad development center, Apple Senior vice-president Eddy Cue said the company wants to launch Apple Pay in India in the future. But the date was not mentioned. He added, “ Our head of Apple Pay, Jennifer Bailey, is here with me. And Apple Pay is something that we definitely want in India. The challenge with payment mechanisms is that there isn’t really a lot of global scales. You deal with individual markets at a time… but India is one of those markets where we hope to bring Apple Pay to ”.
To introduce Apple Pay in India, the company will look to partner and integrate its payments service with established players in the country like Paytm, rather than assembling a new payments solution from scratch, Cue added.
Apple plans to get a portion of the digital payments business in India comes at a time when the company is already ramping up in the country. Apple has already started its primary production of its iPhone SE model to local customers. In February, the government of Karnataka had declared Apple’s proposal to start producing operations in Bengaluru. The phones are being manufactured for Apple by Wistron, A Taiwanese original equipment manufacturer.
Apple also released a is app accelerator in Bengaluru on the previous year. It was launched as a push to tap the country’s developer ecosystem. Last week, that company released two new so-called Mac Labs in Chennai and Mumbai, as part of the company’s broader strategy to help identify and uncover talented musicians who are not a part of Bollywood and do not have big budgets at their disposal. Mac Labs will teach students to produce music using Apple’s software and music apps.
Apple is also influencing India’s Technology and engineering talent in a big way for its Apple Maps service much like rivals Google Inc and Uber Technologies, which also have facilities in Hyderabad, with engineers who are working on their respective mapping services.