Apple Pay launched in India: How to use it
What's the story
Apple has launched its payment service, Apple Pay, in India. The move marks the company's entry into one of the world's largest digital payments markets. The service is currently available for Axis Bank-issued Visa and Mastercard credit cards. An Apple executive told Moneycontrol that more bank support will be added over time.
Service expansion
India is a digitally savvy country, says Apple
Jennifer Bailey, Apple's VP of Apple Pay and Apple Wallet, said India is a digitally savvy country that embraces a cashless future. She added that they are excited to bring Apple Pay to Indian users.
The service lets you add eligible cards to your Apple Wallet for use at thousands of in-store and online merchants across India. It also works at NFC-enabled terminals globally.
Enhanced security
Transactions don't require entering card PIN or OTP
Apple Pay transactions don't require entering a card PIN or OTP at checkout.
You just have to double-click the side or Home button, authenticate with Face ID/Touch ID/device passcode, and hold your iPhone or Apple Watch near a contactless payment terminal.
The company is also emphasizing security and privacy as key features of this service.
Transaction security
Here's how Apple Pay protects your data
Apple Pay doesn't store actual card numbers on the device or Apple's servers, nor does it share them with merchants.
Instead, it uses a unique Device Account Number that's encrypted and stored in the Secure Element on the device.
Mastercard's tokenization technology further protects transactions by replacing card details with a unique, cryptographically secured token.
Global expansion
Apple Pay is already available in over 90 countries/regions
The India launch expands the footprint of Apple Pay, which is already available in over 90 countries/regions and works with more than 11,000 bank and network partners globally.
Visa's Group Country Manager for India & South Asia, Suresh Sethi, said this launch marks an important milestone in India's digital payments journey.
The service will be expanded to more merchants and apps over time.