Axis Bank has launched Apple Pay for its credit card customers in India across both Visa and Mastercard networks, becoming the first Indian bank to offer the service, according to the bank. The rollout will allow eligible customers to make payments at participating merchants, within apps and online using Apple devices, including iPhone, Apple Watch and iPad. Support for Mac is expected to be introduced soon. Axis Bank customers holding Visa or Mastercard credit cards can add their cards to Apple Wallet through the bank’s mobile banking application or directly through Apple Wallet. Once added, the cards can be used through Apple Pay while customers continue to receive the rewards and other benefits associated with their Axis Bank credit cards. The bank said the launch reflects its focus on developing a payments ecosystem aligned with changing customer preferences for mobile-first, contactless and tokenised transactions. Apple Pay is designed with security and privacy features that prevent the actual card number from being stored on the device or Apple servers and from being shared with merchants. Instead, the service assigns a unique Device Account Number to the card, which is encrypted and stored in Apple’s Secure Element. Axis Bank Managing Director and CEO Amitabh Chaudhry said the payments sector is undergoing significant change as technology, security and evolving customer expectations reshape the way people transact. He said the launch would give the bank’s credit card customers greater choice and flexibility, with support across Visa and Mastercard networks. Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said the service is being introduced to Indian consumers as the country continues to embrace digital payments. Apple Pay enables users to make contactless card payments at stores without an additional app, PIN or OTP, while online payments can be completed without repeatedly entering card details. Mastercard President for India and South Asia Gautam Aggarwal said the integration would provide Axis Bank’s Mastercard credit cardholders with another contactless payment option. He highlighted Mastercard’s tokenisation technology, which uses a unique, cryptographically secured token for each transaction so that card details are not shared with merchants. Suresh Sethi, Visa’s group country manager for India and South Asia, described the launch as an important development for digital payments in India. He said the offering combines Visa’s payment network and tokenisation capabilities with Apple’s payment experience and Axis Bank’s customer reach. The introduction of Apple Pay through Axis Bank adds another digital payment option for Indian credit card users and brings Apple’s device-based payment experience to the country’s expanding contactless payments landscape. For customers, the service is intended to provide a convenient way to use Axis Bank credit cards across Apple devices while retaining card rewards and benefits.
Axis Bank Brings Apple Pay to India’s Credit Card Users
