Apple Pay Launches in India After 12 Years, With Axis Bank as Its First Partner

Apple Pay was launched in India on Wednesday after months of leaks and rumours. The Cupertino-based tech giant has launched its contactless digital payment service in the country about 12 years after it was first introduced in the US in September 2014. In India, the iPhone maker is partnering with the Mumbai-based Axis Bank to launch its tap-to-pay service. The company is initially allowing users to add only Visa and Mastercard credit cards issued by the financial institution. In terms of safety and privacy, Apple says that it does not record financial information. The digital payments service is currently available for select Apple devices, with plans to bring it to more in the future.

Apple Pay Introduced in India: Here's Everything You Need to Know

In a press release, the Cupertino-based tech giant announced that Apple Pay has been launched in India. The tap-to-pay service is now available for users via iPhone, iPad, and Apple Watch models. The tech giant says that soon Mac devices will also support Apple Pay in the country. With Apple Pay, users will be able to make contactless payments to online merchants, make in-app purchases, and tap-to-pay at Point-of-Sale (PoS) in physical stores with their Apple device, eliminating the need for you to carry a physical card.

Apple has announced that it is partnering with Axis Bank to launch Apple Pay in India. The tech giant is initially allowing customers to add their Axis Bank-issued Visa and Mastercard credit cards. Apple Pay uses Near Field Communication (NFC) technology that allows users to make contactless payments. Hence, tap-to-pay transactions can only be done at PoS where NFC-enabled devices are available. On top of this, Apple Pay does not require users to enter PINs or OTPs at checkout, and the payment is made as soon as a customer taps their device on the PoS device.

To assure users of the safety of their financial information, Apple says that the actual card numbers are not stored on the Apple device or on Apple servers. Similarly, the card numbers are not shared by Apple with the merchants when a user makes a digital payment using Apple Pay. In its place, Apple assigns a unique Device Account Number (DAN), which is encrypted and stored in the Secure Element. Apple explains that the Secure Element is “an industry-standard certified chip designed to store the payment information safely on the device”.

Further, the company highlights that the transaction information is not retained by Apple, which stays between the user, merchant, and their banks or card issuer. With Apple Pay's launch in India, the tap-to-pay service is now available in more than 90 countries and regions, the tech giant announced. Additionally, Apple Pay now works with over 11,000 bank and network partners globally, including Axis Bank.

To use Apple Pay, users can directly add their Axis Bank-issued Visa and Mastercard credit cards to Apple Wallet via the latest version of the Axis Bank app. However, they can also open the Apple Wallet app on their iPhone, tap the plus sign, and follow the on-screen instructions to add their credit card. Once done, they can start using Apple Pay to make contactless payments.