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Apple plans to launch its credit card known as Apple Card

Apple plans to provide its credit card, known as the Apple card, on a global scale outside the United States, according to a recent report issued by the Indian Moneycontrol website specializing in financial news and business. The card is currently being launched in India by an American company.

According to the sources, Tim Cook, CEO of Apple, visited India in April and met the HDFC president to discuss the launch of a possible Apple card and the Apple Pay electronic payment service in India.

Apple is collaborating with HDFC Bank to create a credit card under both brands as part of its efforts to introduce the Apple Card. Apple is only permitted to issue credit cards through local banks in India.

Apple has also been in talks with the Reserve Bank of India, where it was asked to adhere to the general co-branded credit card policies without taking into account any company-specific deviations.

Negotiations are still in their early stages and a full decision has not been made in issuing the card in India before markets in Europe or perhaps other Asian countries like Japan will be unexpected.

In the middle of 2019, the Apple Credit Card was introduced in the United States.

It has not been accessed in any other country since 2019. The card, which is made of titanium and simply has the name printed on it rather than any additional numbers, was created in collaboration between Apple, Goldman Sachs and Mastercard.

With the aim of making India a manufacturing center similar to China and intensifying its efforts to increase sales volume, Apple intends to intensively multiply its activity in the Indian market by increasing iPhone production there and establishing a local supply chain.

Tim Cook recently opened two Apple Authorized Stores in India. Previously, access to Apple merchandise was only possible in India through a select dealer network and online store.

According to sources, Apple sold more than $6 billion worth of products in India in the first quarter of this year, an increase of 50% over the same period last year.