RBI's rules open the door for Apple Pay in India. $AAPL gets a regulated path into a payments market it has barely touched — that's the piece of the India story worth underwriting, not device share.

What happened: Apple Pay launched in India on September 30, enabled by RBI's Authentication Mechanisms for Digital Payment Transactions Directions of September 2025, which allow device-native biometrics instead of OTP for card payments. Key numbers: Apple Pay arrived 12 years after its global debut. The RBI directions took effect in April. Why it matters: The article argues the regulatory shift matters more than the launch itself, since it lets authentication move to devices. It notes Apple Pay does not yet support RuPay or UPI, and that device-makers now become part of the security chain.

Apple Pay launched in India on September 30, enabled by RBI's Authentication Mechanisms for Digital Payment Transactions Directions of September 2025, which allow device-native biometrics instead of OTP for card payments.

The article argues the regulatory shift matters more than the launch itself, since it lets authentication move to devices. It notes Apple Pay does not yet support RuPay or UPI, and that device-makers now become part of the security chain.