Apple Pay has officially entered the Indian market, providing iPhone, iPad, and Apple Watch users with a modern method for making payments via card at various locations including stores, applications, and websites. Users are likely curious about the service’s functionality, the types of cards accepted, and potential additional fees.

Operation of Apple Pay and Supported Cards

Apple Pay enables users to link an eligible credit card to their Apple Wallet for seamless transactions. To make a payment in-store, users can hold their iPhone or Apple Watch near a contactless payment terminal and authenticate the transaction using Face ID, Touch ID, or a passcode. No separate payment application is needed, nor is there a requirement to enter a PIN or OTP during the checkout process.

At launch, the service works with Visa and Mastercard credit cards issued by Axis Bank. Eligible users can add these cards to Apple Wallet and retain associated benefits and rewards. Apple has indicated that support for additional merchants and applications will grow over time, along with the potential for more card networks to be included.

The standard merchant discount rate (MDR) associated with credit card transactions will apply to purchases made with Apple Pay. This MDR is a fee that merchants pay for accepting card payments, and it differs from the MDR framework set to be introduced for select high-value UPI transactions. Variations in the MDR may exist based on factors such as the card network and merchant agreements.

Device Compatibility and Setup Process

Currently, Apple Pay is compatible with iPhone, iPad, and Apple Watch in India, with plans for future compatibility with Mac devices. Users can initiate payments once an eligible card has been added to their Apple device.

Setting up Apple Pay involves two primary methods for adding an Axis Bank card. Users may access the latest version of the Axis Bank mobile application to add the card to their Apple Wallet. Alternatively, they can navigate to the Wallet application on their iPhone, press the ‘plus’ icon, and follow the visible prompts to ensure card addition and verification.

Using Apple Pay at a contactless payment terminal is uncomplicated; for instance, on an iPhone, users double-click the side button or Home button and complete payment authorisation using Face ID, Touch ID, or their device passcode if prompted. After authentication, the device can be held near the terminal for payment completion. Apple Watch users can similarly position their device’s display near the reader.

Security Features and Merchant Participation

Security remains a priority for Apple Pay. The true card number of users is not stored on devices or Apple’s servers, nor is it shared with merchants. Each transaction is secured by a unique Device Account Number that is encrypted and kept safely within the device’s Secure Element. Effective measures, such as tokenisation technology employed by Visa and Mastercard, further safeguard card information during transactions.

Apple has stated that Apple Pay can be utilised at participating online and in-store merchants featuring contactless payment systems. Upon launch, millions of merchants across India, such as Apple Store, Blinkit, and Zomato, among others, are expected to accept the payment method. Collaborations have been made with several payment service providers to facilitate this integration within merchant networks.

If an iPhone is lost or stolen, users can leverage the Find My app to locate their devices and suspend payments associated with them. The use of a Device Account Number instead of the actual card number ensures that sensitive details are not readily accessible on the device.

Credit Card Rewards and Future Developments

Users can continue to earn credit card rewards while making payments through Apple Pay. Adding an eligible Axis Bank credit card to Apple Wallet will not affect existing rewards or benefits linked to the card. As Apple expands its offerings, users can expect further enhancements to the Apple Pay service in India.

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