Apple Pay Enters India Market Through Axis Bank Partnership

Apple has introduced its mobile wallet service to the Indian market on September 30, marking its entry into a region where the UPI instant payments system holds significant market share.

The service works with iPhone, iPad, and Apple Watch at launch, with Mac support planned for a future release. Users can add their Axis Bank-issued Visa and Mastercard credit cards to Apple Wallet and pay at merchants accepting NFC transactions throughout India, both in physical stores and online.

The payment system does not store actual card numbers on devices or Apple servers, nor does it share them with merchants. Instead, the company assigns a Device Account Number, encrypts it, and stores it in the Secure Element chip embedded in the device.

Users authenticate transactions without entering card PINs or one-time passwords. For in-store purchases, they double-click the side button or Home button, verify their identity with Face ID, Touch ID, or a device passcode, and hold the device near a contactless terminal.

India is home to a dynamic and digitally savvy population that continues to embrace a cashless future while expecting the highest standards of security and privacy, Jennifer Bailey, Apple Pay and Apple Wallet vice president, said.

The tech company stated that millions of merchants across India will accept the service at launch. The initial roster includes Apple Store locations, Blinkit, Chaayos, Comet, Croma, Interflora, Ixigo, Le15 Patisserie, Reliance brands, Tata 1mg, and Zomato.

Additional merchants and apps will join the network over time, according to the company.

Visa highlighted the role of its network infrastructure and tokenisation technology in enabling the India launch.

The launch of Apple Pay in India marks an important milestone in the evolution of the country's digital payments journey, Suresh Sethi, Visa India and South Asia group country manager, said. He added that the partnership brings together Apple's consumer experience with Visa's global network and security capabilities.

Apple Pay debuted in the United States in 2014 and has since expanded to more than 90 countries and regions worldwide.

Earlier in 2024, Visa enabled Chinese cardholders to use Apple Pay for overseas transactions. The service allows eligible customers to add Visa cards from participating banks and make payments at international merchants that accept Visa.