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Economy

Apple mulls introducing e-payment services in India

Country's booming e-wallet market already lured Google, Amazon and WhatsApp

Eddy Cue introduces Apple Pay during an Apple event at the Flint Center in Cupertino, California in September 2014.   © Reuters

MUMBAI (NewsRise) -- Apple's plan to introduce its Apple Pay services in India is set to heat up the race to dominate the nation's booming mobile payments market that has already lured Google, Amazon and Facebook's WhatsApp.

India's mobile phone payments market is riding on the wave of surging internet usage as more people get online to buy books, mobile phones, accessories, and apparels. According to a Boston Consultancy Group report, the country's digital payments industry will be worth about $500 billion by 2020.

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