India, Sept. 30 -- Apple is preparing to bring Apple Pay to India, ending a long wait for the company's payment service in one of the world's biggest smartphone markets.

According to Reuters, the service is expected to launch next month, initially with Axis Bank credit cards. Apple is also in discussions with other major lenders, although agreements with them have not yet been finalised. The rollout is expected to be gradual rather than a nationwide launch involving multiple banks at once.

When will Apple Pay launch in India?

Apple Pay is expected to go live in India next month, Reuters reported, citing three people familiar with the matter. Axis Bank is set to be the first banking partner. Apple is expected to add more lenders through...