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The Apple Pay rethink

The absence of a coherent NFC-enabled payment ecosystem could force Apple to look elsewhere: maybe, mobile wallets

22/02/17

Venkat Ananth

The lack of a coherent NFC-based payments ecosystem is thwarting Apple's payment plans for India

Problems include lack of availability of NFC-enabled PoS terminals, low merchant awareness and poor issuance rates from banks

But Apple might be taking the wallet route to India, based on its learnings from China

With only 2% market share, its impact, if and when it arrives, remains to be seen

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In May 2016, when Apple CEO Tim Cook visited India, he made a big ticket announcement that got the country’s fintech community buzzing. Cook said that Apple wanted to bring its mobile payments and digital wallet service—Apple Pay—to India.

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