India, Aug. 10 -- Apple Pay is likely to launch in India by late September or October, giving the iPhone maker a foothold in the country's lucrative premium credit-card market.

According to a Business Standard report, citing sources, Apple Pay will initially support credit cards issued on global payment networks such as Visa and Mastercard.

The service is unlikely to initially support UPI payments at launch, the report said. Apple would need approval from the National Payments Corporation of India (NPCI), which operates the UPI network, as well as a partnership with a sponsor bank to route UPI transactions.

Inc42 has reached out to Apple seeking comments on the development. The story will be updated based on their response.

Apple has ...