PayU, an Indian fintech platform, has introduced Apple Pay to its extensive merchant network across India. The integration aims to provide secure, contactless payment options for customers in online, in-app, and in-store environments.
The addition allows consumers to utilize Apple devices for transactions, enhancing the digital payment infrastructure for merchants.
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For in-store transactions, users can double-click the side button, authenticate via Face ID, Touch ID, or device passcode, and then hold their iPhone or Apple Watch near a compatible payment terminal. Each purchase is secured with a one-time unique dynamic security code. Apple Pay is compatible with terminals in various retail sectors, including groceries, pharmacies, and hospitality.
Apple Pay also supports in-app and web purchases via Safari on iPhone and iPad, with Mac compatibility expected. This facilitates quicker transactions by removing the need for repeated account logins or manual entry of shipping and billing details.
Nikhil Mehta, Senior Vice President – Partnerships & Business Head – Growth Initiatives (Cross-Border Payments & Affordability) at PayU (https://payu.in/), stated that the integration aims to provide new authentication solutions for digital payments. He added that PayU would support merchants through the technical integration and compliance processes.
The system prioritizes security and privacy. When a credit or debit card is added to Apple Pay, the actual card numbers are not stored on the device, Apple servers, or shared with the merchant. Instead, a unique Device Account Number is assigned, encrypted, and stored in the Secure Element, a certified chip designed for secure payment information storage on the device.
Setting up Apple Pay involves adding eligible cards through the Wallet app on an iPhone. Once a card is linked to an iPhone, Apple Watch, or iPad, users can commence payments while retaining bank card rewards and benefits. For more information on such fintech industry developments, visit our dedicated section on TechnoSports (https://technosports.co.in/).
