I would avoid using an employer supplied device for personal use! More often than not these devices are “managed devices” which consists of management profiles that could grant all sorts of permissions from normal diagnostics, restrictions to location, camera and more!
With that said Apple in such case would become the middle man in relatio to the transaction! That means that Apple pay would retain the purchase logs on your card and send a apple.com description to your bank to mask all your purchases! In theory you’d be given more privacy in relation to your bank but you’d be introducing a third party in the process and more potential failure points!