Apple is planning to bring its payment system to India, along with several other countries. According to a post on its website, Apple Pay is set to expand across Europe, Middle East, India and Africa.

"Apple Pay is a new and exciting area in Apple that is set to expand across Europe, Middle East, India and Africa. Apple Pay will change the way consumers pay with breakthrough contactless payment technology and unique security features built right into their iPhone 6 or Apple Watch to pay in an easy, secure, and private way. The new London-based Apple Pay team will work to drive the roll-out of this technology across EMEIA by working with a variety of internal and external partners, including teams in the US where the product will first launch and the EMEIA organisation, as well as Issuers, payment networks and merchants across Europe," the post read.

Apple Pay gets more support from banks

Apple Pay, which allows the new iPhone to make payments in stores, has the backing of banks that dominate 90 percent of all credit cards transactions from the US, the company has announced.

Apple said Tuesday that 10 new banks, including Commerce Bank, support its electronic payments system and institutions that support the system account for 90 percent of all card transactions, compared with 83 percent in September.

The company has said that the electronic payment system will also work with Apple Watch, which will debut on the market next year.

Apple Pay is still in its initial stage, but it has generated great interest over the possibility of it replacing wallets.