Tim Cook reportedly met with Indian authorities to negotiate a localized version of Apple Pay
Los Angeles:
Apple has been looking forward to launching its payment feature called Apple Pay in India for quite some time now.
According to GSMArena, Apple plans to hold talks with the local regulatory authorities, specifically the NPCI – a special arm of India’s central bank – Reserve Bank of India.
Apple Pay would enter a hyper-competitive segment that includes PhonePe, GooglePay, WhatsAppPay, and Paytm.
According to news agency ANI, Tim Cook has reportedly met with Indian authorities to negotiate a localized version of Apple Pay that will allow customers 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 is not yet negotiating with local partners (banks).
In March, Apple introduced “Apple Pay Later,” a buy now, pay later service, but only for select customers in the US.
First announced at 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’s no interest or late fees.
(Except for the headline, this story has not been edited by NewsMadura staff and is being published from a syndicated feed.)
