Apple Unveils Its “Pay Later” Service
Apple is continuing its push into the services business, this time targeting the popular “buy now pay later” (BNPL) space. Today the consumer tech giant introduced its “Apple Pay Later” feature, allowing consumers to pay for purchases over time. 💳
Soon, Apple Pay users can split purchases into four payments at no cost. The four payments will be spread over six weeks without interest, fees, or immediate impact on their credit score. Users can apply for loans ranging from $50 to $1,000, which can be used for online and in-app purchases and at merchants that accept Apple Pay.