Current Affairs - Banking - Discussion

Axis Bank partnered with Apple for the initial launch of Apple Pay in India on September 30, 2026. The service was introduced for Visa and Mastercard credit card holders, marking Apple Pay’s entry into the Indian digital payments market. Apple Pay uses tokenisation technology to replace actual card details with a unique encrypted Device Account Number, while transactions are authenticated through Face ID, Touch ID, or a device passcode. Axis Bank, established in 1993 as UTI Bank, is headquartered in Mumbai, Maharashtra. As of September 2026, the bank was led by Managing Director and CEO Amitabh Chaudhry.