Sunday, December 21, 2014

Apple Pay coming to India: Report

Apple Pay, the payments system that the iPhone maker unveiled in September this year, may soon be coming to India.

Apple Pay coming to India: Report
According to an internship vacancy posted by Apple on its UK website, the company is expanding its payment solution’s reach and India is on its sights.

According to an internship vacancy posted by Apple on its UK website, the company is expanding its payment solution's reach and India is on its sights. Though the vacancy has since been taken down by Apple, technology website 9To5Mac has published the full text of the listing. It says:

"Apple Pay is a new and exciting area in Apple that is set to expand across Europe, Middle East, India and Africa. Apple Pay will change the way consumers pay with breakthrough contactless payment technology and unique security features built right into their iPhone 6 or Apple Watch to pay in an easy, secure, and private way. The new London-based Apple Pay team will work to drive the roll-out of this technology across EMEIA by working with a variety of internal and external partners, including teams in the US where the product will first launch and the EMEIA organisation, as well as Issuers, payment networks and merchants across Europe."

The listing does not suggest any timeline for the rollout of Apple Pay in India, and the company has not given any such hints till now either.

At present, Apple Pay works only in the US and can be used only by owners of iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3. iPhone 5S, 5 and 5C users will also be able to make payments via Apple Pay once the Apple Watch arrives in the market.

Apple Pay is a replacement for credit and debit cards as it allows users to make payments via NFC-based wireless communication between the device and the point of sale systems. Visa, MasterCard and American Express already support this payment solution.

India is a unique choice for Apple Pay as the market is still largely runs on cash, even though debit and credit cards are used in major cities. In order to make Apple Pay work in India, the iPhone maker will have to tie up with banks and credit companies, not to mention retailers where this payment solution will be implemented.

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