Apple, the renowned company known for manufacturing iPhones, is set to enter India’s payment sector. The company may soon launch its own credit card, possibly named Apple Card. According to reliable sources, Apple CEO Tim Cook had a discussion with Shashidhar Jagdishan, the CEO of HDFC Bank, during his visit to India in April.

Another source reveals that the tech giant is also in talks with the National Payments Corporation of India (NPCI) to potentially launch Apple Pay in the country. It is unclear whether these discussions are about operating its credit card through NPCI’s platform or for Unified Payments Interface (UPI). Launching a Rupey credit card would provide the advantage of integrating it with UPI as well.

Apple has also engaged in discussions with the Reserve Bank of India (RBI) regarding the card’s structure. RBI has informed the company that it needs to fulfill all the necessary processes, without any special privileges. In this regard, neither Apple nor HDFC Bank has provided any response.

Possible Features of Apple Card Apple Card, which is associated with Apple’s services, offers rewards in the form of “Reward Money” deposited in the Apple Wallet. It provides an annual interest rate of 4.15%. There is no annual fee for this card. In the United States, users of Apple Card can purchase Apple products on installment plans without any interest. The company may collaborate with other premium brands to offer cashback ranging from 3-5% and additional cashback or reward points of 2-3% for purchasing Apple products and services.

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