Apple has announced the launch of their Apple Pay Later payment service on a limited basis, the feature is not being made available to everyone as yet, and Apple will invite people to use the service in the USA.
The new payment service will be expanded to everyone in the USA later this year, it will allow you to make purchases with Apple Pay and then spread the cost over a set amount of time. You will be able to spread the payments over a period of six weeks with no interest.
Apple today introduced Apple Pay Later in the U.S. Designed with users’ financial health in mind, Apple Pay Later1 allows users to split purchases into four payments, spread over six weeks with no interest and no fees.2 Users can easily track, manage, and repay their Apple Pay Later loans in one convenient location in Apple Wallet. Users can apply for Apple Pay Later loans of $50 to $1,000, which can be used for online and in-app purchases made on iPhone and iPad with merchants that accept Apple Pay.3 Starting today, Apple will begin inviting select users to access a prerelease version of Apple Pay Later, with plans to offer it to all eligible users in the coming months.
“There’s no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “Apple Pay Later was designed with our users’ financial health in mind, so it has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions.”
You can find out more details about the new Apple Pay Later feature over at Apple’s website at the link below, as yet there are no details on when it will launch outside the USA.
Source Apple
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