Apple offers new “buy now, pay later” service

With the aim of preserving the financial health of users, Apple creates a “Pay Later” system.

Apple has introduced a service that allows users to split payment into four parts without fees or interest. Starting March 28, the company will select certain users and give them access to a preview version of Apple Pay Later.

“There is no one-size-fits-all approach when it comes to how people manage their finances,” said Apple Pay and Apple Wallet vice president Jennifer Bailey. “Many people are looking for flexible payment options, which is why we’re thrilled to offer our users Apple Pay Later. Apple Pay Later was designed with our users’ financial health in mind, so it is fee-free, interest-free, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions.”

Apple communicated, “Users can apply for Apple Pay Later loans ranging from $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.”

From the Wallet app, users can start using the new service and apply for a loan “with no impact to their credit.”

And speaking of Apple, this is what the iPhone 15 Pro is expected to look like.