New Delhi, Feb. 26 -- Apple Inc. is in discussions with key Indian banks and global card networks in preparation to start Apple Pay in the world's most populous country.

The iPhone maker is in talks with ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd., as it aims to introduce its payment service in India around the middle of 2026, according to people with knowledge of the matter. The timeline remains fluid, but the talks indicate an approaching launch.

Apple is also discussing the plan with payment networks Mastercard Inc. and Visa Inc., said the people, who asked not to be named because the deliberations are private. Apple declined to comment, while representatives of the banks and payment networks didn't immediately respond to requ...