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Fintech Stocks Fall After Report On Apple Pay’s India Entry Plans
Last Updated: 26th February 2026 - 03:37 pm
Summary:
Fintech stocks declined on February 26 after Bloomberg reported that Apple Inc. is in talks with Indian banks and card networks to launch Apple Pay in India around mid-2026, according to the report published on February 26.
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Shares of Pine Labs fell about 3% in afternoon trade on February 26, while One MobiKwik Systems declined a little over 1%, as per exchange data.
One 97 Communications, which operates the Paytm platform, traded 0.6% lower, recovering partially from its intraday low. Broader market indices showed limited movement during the session.
According to Bloomberg, Apple Inc. is in discussions with HDFC Bank, ICICI Bank and Axis Bank, as well as card networks Visa Inc. and Mastercard Inc., to prepare for a potential rollout of Apple Pay in India.
The report stated that Apple Pay is expected to support India’s Unified Payments Interface (UPI) along with card-based payments, subject to regulatory approvals and final timelines. UPI enables instant fund transfers and bill payments and accounts for the majority of retail digital transactions in India, according to data released periodically by the National Payments Corporation of India.
Apple Pay uses biometric authentication, including Face ID or Touch ID, to authorise payments for in-store tap-to-pay transactions, online purchases, and in-app payments.
India’s Digital Payments Landscape
India is among the fastest-growing digital payments markets globally, with UPI-based applications accounting for a significant share of transactions, as per data from the National Payments Corporation of India. The market includes global and domestic participants across banking, wallet, and payments segments.
The Bloomberg report indicated that discussions are ongoing and that the potential launch timeline is targeted around mid-2026, subject to approvals. The movement in listed fintech stocks on February 26 followed the publication of the report regarding Apple’s plans to enter the Indian payments market.
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