Apple Account

Apple Pay is the way to pay. It replaces your physical cards and cash with a method of payment that is private, easier and safer. Whether you pay in a store, on a website or in an app. This is the new payment.

it is actually the same as paying contactless with your bank card, only via the iPhone.

See the following Apple articles:

Set up Apple Pay

Set up Apple Pay - Apple Support

Countries and regions that support Apple Pay

Countries and regions that support Apple Pay - Apple Support (EG)

Set up Apple Pay in Wallet on iPhone

Set up Apple Pay in Wallet on iPhone – Apple Support (UK)

Make purchases using Apple Pay

Make purchases using Apple Pay - Apple Support

Use Apple Pay for contactless payments on iPhone

Use Apple Pay for contactless payments on iPhone – Apple Support (UK)

Learn where to use Apple Pay

Learn where to use Apple Pay - Apple Support 

Make contactless payments using Apple Pay on iPhone

Use Apple Pay for contactless payments on iPhone – Apple Support (UK)

Use Apple Pay in apps, App Clips, and Safari on iPhone

Use Apple Pay in apps, App Clips, and Safari on iPhone – Apple Support (UK)

See also -> About billing for Apple subscriptions and media products in India

About billing for Apple subscriptions and media products in India - Apple Support

India

•           Apple ID balance (from adding funds)

•           Net Banking (adding funds only)

•           UPI (adding funds only)

You can use / pay with your Apple ID balance, see the following Apple articles: 

Add money to your Apple ID balance

Add money to your Apple ID balance - Apple Support (IN)

You can't add your Apple account to your wallet. The wallet is for payment methods as described above.