Apple Pay launches in India with Axis Bank credit cards — but no UPI

Apple Pay went live in India on Wednesday, 12 years after its 2014 US debut. At launch it works only with Axis Bank credit cards on the Visa and Mastercard networks, with no UPI support and no RuPay or debit cards.

Users add an eligible card via the Axis Bank or Wallet app. It works on iPhone (XR and newer), iPad and Apple Watch. In stores, users double-click the side button, authenticate with Face ID, Touch ID or a passcode and hold the device near a contactless terminal — no PIN or OTP. It also works in apps and on websites; real card numbers are replaced by a tokenised Device Account Number in the Secure Element, never shared with merchants.

Launch merchants include Apple Stores, Blinkit, Zomato, Croma, Chaayos, Tata 1mg and Reliance brands; PayU is bringing Apple Pay to its own merchant network. HDFC Bank, ICICI Bank and SBI Card are not at launch, TechCrunch reported, with talks on commercial terms continuing.

“We are at a significant inflection point in payments,” said Axis Bank MD and CEO Amitabh Chaudhry. Mastercard’s Gautam Aggarwal said it “ushers in a new era of contactless commerce”.

Apple faces UPI, which did 24.51 billion transactions worth ₹29.82 lakh crore in August. From 15 October, a 0.4% UPI merchant fee applies above ₹2,000, capped at ₹300 for transactions of ₹75,000 or more; payments up to ₹2,000 and small merchants up to ₹1 lakh a month stay free.

Sources

• https://www.news18.com/tech/apple-pay-vs-google-pay-apples-india-service-is-card-only-with-no-upi-ws-e-10360339.html
• https://www.cnbctv18.com/personal-finance/apple-pay-vs-upi-india-payment-service-launch-axis-bank-credit-cards-apple-wallet-20001654.htm
• https://www.thehindubusinessline.com/money-and-banking/apple-pay-launches-in-india-to-take-on-phonepe-google/article71526688.ece
• https://www.financialexpress.com/life/technology-apple-pay-launches-in-india-but-without-upi-payment-option-how-to-set-it-up-on-iphone-4350285/