Apple Pay Launches in India after months of leaks and speculation. The American multinational company launched its contactless digital payment platform in the Indian market last week, almost 12 years after its introduction in the US market in September 2014.
For the Indian launch of the digital payment service, Apple Pay with Axis Bank has been introduced through a partnership with Axis Bank, which has its headquarters in Mumbai. Users can use only the Visa and Mastercard provided by Axis Bank when using the digital payment service.
The company claims that its service is built to provide maximum security and privacy and does not keep a record of the user’s financial information.
Apple Pay Introduced in India: Everything You Need to Know
The company announced the roll-out of its payment platform ‘Apple Pay’ in India in a press statement. The contactless payment system is available on iPhone, iPad, and Apple Watch models.
Using Apple Pay, users can make contactless payments in physical stores, make payments online, and also make in-app payments from their Apple devices. With the help of Apple Pay, users can make payments without their physical credit card.
Axis Bank Is the First Partner
Apple has collaborated with Axis Bank to bring Apple Pay to India. On launch, customers will be able to use credit cards from Axis Bank via Visa and Mastercard channels in the service.
Apple Pay uses Near Field Communication (NFC) technology to facilitate contactless payments. Hence, users will be able to make payments using the tap-to-pay method only from those PoS machines that support NFC.
In Apple Pay, users do not need to provide any PIN or OTP while making payments. After tapping their Apple device on NFC-enabled POS machines, payments are made.
How Apple Pay Protects Financial Information
According to Apple, users’ card numbers are never stored either on their device or on Apple’s servers. Additionally, the card number is never transmitted to the merchants during payments made using the Apple Pay service.
The only card data that Apple collects consists of Device Account Numbers (DAN). The device account number is a random number used to replace the real card number. DAN is encrypted and stored on a Secure Element chip, according to Apple, the industry-standard certified chip for storing payment data.
Moreover, Apple claims that transaction details are never saved by the company. Transaction details stay confidential only between the user, the merchant, and the user’s bank/card issuer.
Following the launch in India, Apple Pay can be used in more than 90 countries and territories around the world. The service also has partnerships with more than 11,000 banks and networks around the globe, including Axis Bank.
How to Set Up Apple Pay in India
Users can add their Visa and MasterCard issued by Axis Bank to Apple Pay from the updated version of the Axis Bank app.
The other way for the users is to open the Apple Wallet app from their iPhone device and click on the plus (+) button, followed by the on-screen instruction.
After adding the card to Apple Pay, users can start using it to make contactless payments.
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