News Summary

• Apple Pay is expected to launch in India next month, three people familiar with the plans told Reuters.
• The service will widen to other lenders through separate bank-by-bank agreements, the pattern Apple has followed in other markets.
• Apple has also held talks with HDFC Bank and ICICI Bank, both larger card issuers than Axis, but has not settled commercial terms with either.
• Axis is India’s fourth-largest credit card issuer, with 16.26 million active cards as of July.