Apple Pay launches in India with Axis Bank partnership

Apple Inc. has introduced Apple Pay, its mobile payments service, in India following a prolonged period of anticipation. iPhone, iPad, and Apple Watch users now have a novel method of executing contactless transactions at retail outlets and online platforms. The debut of Apple Pay is spearheaded by exclusive assistance for Axis Bank credit cards on the Visa and Mastercard networks.

Consumers have the option to incorporate their credit cards into Apple Wallet and employ Apple Pay at participating retailers and websites that support the service. However, the India launch is initially restricted. At this moment, Apple Pay does not accommodate UPI, India's predominant digital payment system, or RuPay cards, the nation's homegrown card network.

The payment gateway PayU has incorporated Apple Pay across its merchant domain, making it readily accessible at thousands of digital storefronts and brick-and-mortar establishments. Additional aggregators, such as Razorpay, Pine Labs, and Paytm, are also aiding the rollout across nationwide chains, including Apple Store outlets, Zomato, Blinkit, Croma, Tata 1mg, and Reliance retail conglomerates.

Nikhil Mehta, Senior Vice President at PayU, expressed his enthusiasm, stating that the platform will facilitate merchants in navigating technical integration and compliance, thereby offering businesses a swifter checkout alternative aimed at enhancing conversion rates. In brick-and-mortar stores, finalizing a purchase entails double-clicking the side button on an iPhone or Apple Watch, authentication via Face ID or Touch ID, and tapping the device on a contactless payment terminal.

For online checkouts in Safari or within mobile applications, the platform negates the necessity to manually input shipping details, billing addresses, or primary card information. Security is paramount for Apple Pay. Actual card numbers are never retained directly on the user’s device or on Apple servers, nor are they communicated with merchants during a transaction.

Instead, each device generates an encrypted Device Account Number stored in the chip's isolated Secure Element, and each transaction is authenticated with a unique, one-time security code. To initiate the service, users must open the native Wallet app, tap the addition symbol, and follow the instructions to link an eligible card.

Cardholders continue to accrue all standard reward points, cash back, and banking benefits associated with their primary accounts.