Apple launches ‘buy now, pay later’ service

Apple launches ‘buy now, pay later’ service

Apple launched its ‘buy now, pay later’ service announced for countries such as the United States to allow the purchase of devices and payment of services in installments as if it were a finance company.

The service named ‘Apple Pay Later‘ will allow users to split purchases into four payments spread over six weeks. All installments will be interest and fee free.

Take Home

Under this model, users will be able to get credits from $50 to $1,000 to make online purchases from our company devices. They will also be able to spend it with merchants that accept Apple Paythe company notes.

In this regard, the company itself Apple notes that 85% of U.S. retailers accept such a payment method, thus expanding the possibilities of its new system exponentially.

The service will operate through. Apple Financing LLCa subsidiary of the Californian company. It will be integrated to the iOS or iPadOS Wallet, so we will be able to use it from our iPhone or iPad.

To cope with the payment of loans from Apple Pay Laterusers will be required to link a debit card (it will not be possible to add credit cards) to the app, from where the corresponding money will be deducted on the dates proposed and previously agreed.

Limited launch

Mind you, the launch of the service is more limited than expected.

Not all users in the United States will be able to use it; it is being rolled out to a very limited number of people. As the months go by, they will expand the group.

Apple Pay Later requires devices upgraded to iOS 16.4 or iPadOS 16.4.

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Daniel Chapman