The American technology powerhouse, Apple, has ventured into India’s burgeoning digital payments landscape by unveiling its Apple Pay service in collaboration with Axis Bank.
This innovative service enables users of Apple devices in India to execute payments utilizing compatible iPhones, iPads, and Apple Watches, even while traveling abroad.
“India boasts a vibrant and tech-savvy populace that emphasizes a transition towards a cashless economy while demanding the utmost security and privacy standards, and we are thrilled to introduce Apple Pay to Indian users today,” remarked Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet.
Distinct from the Unified Payments Interface (UPI), Apple Pay employs an eligible bank card instead of directly facilitating transactions from a bank account.
Users of Apple devices can make purchases at brick-and-mortar stores, within applications, and on websites without needing to input a PIN or OTP during the transaction process, as stated by the company.
Anticipation is building as additional banks are expected to integrate into the platform by year’s end.
“Apple Pay is currently in dialogue with other banks as well. Several are projected to come onboard by the close of this year,” a source keeping abreast of the developments revealed to Reuters.
Setting Up Apple Pay on iPhone in India
Step 1: Launch Apple Wallet
Begin by opening the Wallet app on your iPhone and tapping the ‘+’ (Add Card) icon.
Step 2: Select Your Card
Choose either a Debit or Credit Card and follow the displayed instructions. Furthermore, you may add an eligible Axis Bank card via the Axis Bank mobile application.
Step 3: Capture or Enter Card Information
Utilize your iPhone’s camera to scan the card, or manually input the card details when prompted.
Step 4: Complete Verification
Apple or Axis Bank may require you to verify your card prior to its addition to Apple Wallet. Adhere to the on-screen prompts to finalize the verification process.
Step 5: Start Utilizing Apple Pay
Once the card is successfully added and verified, it becomes usable through Apple Pay at supported contactless payment terminals and participating online vendors.
Executing Payments via Apple Pay
For devices equipped with Face ID, double-click the side button, authenticate using Face ID or your passcode, and then position the top of your iPhone near a contactless payment terminal.
For iPhones with Touch ID, double-click the Home button, authenticate via Touch ID, and hold your device near the terminal.
Apple’s Assurance
Apple indicated that customers possessing eligible Visa and Mastercard credit cards issued by Axis Bank can incorporate their cards into Apple Pay, enabling payments at thousands of participating retail outlets and online merchants across the nation. These cards are also usable at NFC-enabled payment terminals worldwide.
Transactions conducted through Apple Pay are facilitated by Near Field Communication (NFC) technology, empowering users to finalize transactions without necessitating a cellular network or Wi-Fi connection.
Fees, Fraud Mitigation, and Consultations with UIDAI and NPCI
Apple imposes a fee on its banking partners for transactions executed via Apple Pay, while the choice to transfer this cost to customers rests with individual partner banks.
A recent report from Apple disclosed that its payment service aided banking partners in averting approximately $1 billion in financial fraud in 2025.
Moreover, Apple Pay accounted for over $100 billion in supplementary merchant sales across the globe, primarily through secure transactions conducted on the platform.
Additionally, discussions have been held with the Aadhaar-issuing authority UIDAI and the National Payments Corporation of India (NPCI), although a formal agreement remains elusive.
In the meantime, Apple Pay will be supported by millions of merchants nationwide, including outlets such as Apple Store, Blinkit, Chaayos, Comet, Croma, Interflora, Ixigo, Le15 Patisserie, Reliance brands, Tata 1mg, and Zomato, among others.
Currently, Apple Pay is operational in over 90 countries and regions, with backing from more than 11,000 banking and payment network partners worldwide.
Source link: Livemint.com.
