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Happy Tuesday! Apple Pay faces pricing challenges as it works to launch in India.
This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Gig workforce crunch■ ETtech Done Deals■ AWS eyes India expansionApple Pay wants a slice of India, but faces a big pricing challenge Apple Pay’s entry into India is running into pricing friction, even as the company revives talks with local banks.Driving the news: Apple Pay is in discussions to launch its service, but negotiations are slow as banks push back on high commission expectations, sources told us.
The gap: Globally, Apple charges 15–20 basis points on credit card transactions.In India, fees are closer to around 5 basis points.
This mismatch makes Apple’s model harder to replicate in a low-merchant-discount-rate, price-sensitive market.For large banks, sharing a meaningful slice of already thin payment revenues is a tough sell, especially when margins are tightly regulated.Take two: Apple had explored India earlier, but talks stalled over two-factor authentication norms.
With the RBI now allowing alternate verification methods, sources said, discussions have resumed.
The play: With around 9% smartphone market share in India, Apple is targeting premium users, using payments as a gateway to financial services.Also Read: Apple's low-price play lifts India market shareTCS rolls out lateral hiring months after Infosys goes head-hunting for specialist programmers Tata Consultancy Services (TCS) is rolling out a new lateral hiring programme as it retools its workforce for an AI-led future.Hiring details:It is targeting technology professionals with 2–4 years of experience.The company is offering salaries of up to Rs 9 lakh per annum.It is also providing a Rs 50,000 bonus to candidates who join within 30 days of selection.Skill requirements: Applicants are expected to have hands-on experience in at least one of several key technologies, including Java, C++, Python, SQL, .NET, Embedded C, and AngularJS, among othersThe hiring process will involve a three-stage selection, including an online assessment followed by in-person discussions.Rival watch: Infosys has also stepped up hiring, targeting early-career talent with packages of up to Rs 21 lakh, along with bonuses, for candidates with around a year of experience.A summer of worry for food delivery, quick commerce companies Food delivery and quick commerce firms are gearing up for a seasonal surge in demand but face unpredictable rider availability this year.
What’s happening?Demand for gig workers may rise by around 25% during the summer and the IPL season.Harvest season and state elections in West Bengal and Kerala could pull riders back to their hometowns.Seasonal migration already tightens the supply each year.Platforms often raise incentives by about 15% during IPL to retain riders.Quick commerce expansion is also putting pressure on hiring.Yes, but? Planning payouts is also becoming harder amid rising fuel prices, driven by tensions in the Middle East.
“While on one hand, fuel price increase will need to be compensated, the war....
