Get All Access for $5/mo

Apple Is Planning To Launch Its Credit Card In India: Report The report said that the tech giant held talks with HDFC bank to issue the 'Apple Cards' to Indian customers

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


The iPhone maker Apple Inc. is planning to launch its credit card in India. According to moneycontrol report, citing sources aware of the matter, it is said that the tech giant held talks with HDFC bank to issue the 'Apple Cards' to Indian customers.

During the launch of Apple stores in India, CEO Tim Cook reportedly met with HDFC Bank CEO and MD Sashidhar Jagdishan in April. There are also talks that the technology giant is holding discussions with the National Payments Corporation of India (NPCI) to possibly launch Apple Pay in the country.

Apple currently operates its own payment service, Apple Pay, and credit card, Apple Card, in foreign markets, but in India, these services are unavailable.

"Apple is looking to launch its Apple Card, a co-branded credit card with HDFC Bank in the country. The discussions are in the early stages and a decision has not been arrived at. The nature of the discussion, as well as when Apple intends to launch this in India, could not be determined," the report read.

It further added quoting the close sources, "Apple works only with the biggest and the best and hence the discussions with HDFC Bank. While a lot goes into building partnerships, banks and other brands would be willing to sweeten the deal terms to get Apple on board."

Other than holding discussions with the HDFC Bank CEO, Apple Inc executives have also held discussions with the Reserve Bank of India (RBI) related to the legalities of the card, found Moneycontrol.

As of now, there have been no official statements by both Apple and HDFC Bank on the deal. There has been no official confirmation by the RBI as well.

Currently, Apple operates its premium credit card in the USA, which was launched in joint collaboration with Goldman Sachs and Mastercard. It is made of titanium metal and is positioned as a high-end offering.

Recently released reports stated that Apple currently holds approximately 4% of the overall smartphone market in India, which accounts for roughly two crore users.

"To get all the premium Apple customers on board for their credit card is a great proposition for the banks, but none of them can offer any substantial privileges as the regulations around this is strict," one of the sources mentioned.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.


I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.