Apple could rival Samsung Credit Card in India

Apple Card was first launched in the US four years ago in partnership with Goldman Sachs. Tim Cook mentioned at that time that the company wanted to offer its card everywhere in the world and that it would expand its availability to more countries. And it looks like the company wants to bring Apple Card to India next. Multiple reports from Engadget and The Federal claim that Apple is in discussions with multiple banks in India, including HDFC Bank and the Reserve Bank of India, for the launch of the Apple Card.

Apple has to follow regular procedures in India like Samsung and other brands do for co-branded credit cards

The Federal claims that India's government has told Apple that it won't offer any special considerations and the company has to follow India's regular procedures for co-branded cards like other companies (like Samsung) do. While Apple is in talks with HDFC Bank, the company hasn't finalized its decision yet. The company is also reportedly in the process of launching Apple Pay in India to compete with Samsung Pay.

Apple Card offers a lot of benefits to users, including no annual fees, a 3% cash back on purchases made on Apple products and services, a 2% cashback when using it with Apple Pay, no surcharge on foreign transactions, and no late fees. It also offers cash bank on a daily basis rather than monthly as other cards do. It even allows users to merge their Apple Card accounts to make a co-owned account. Apple Card can be shared with other family members. It also offers enhanced security, and the physical card comes in titanium form.

Samsung Credit Card offers various rewards

In comparison, Samsung Card (Infinite and Signature versions) offers 10% additional cash back rewards while buying a Samsung product. It also offers a fuel surcharge waiver, up to 8 visits to premium airport lounges for free, and dining benefits. It also offers 1% cashback on domestic transactions, 3% cashback on international transactions, and 3% cashback on transactions with select merchants/brands.

A couple of years ago, the Indian government changed laws related to recurring payments, making it quite hard for brands to offer easy recurring payments for things like subscriptions and in-app purchases. Hence, Apple was forced to remove credit card and debit card options from the App Store, leaving only two options: Apple Wallet and UPI AutoPay. If Apple Card launches in India, it could make App Store payments a lot easier.