Apple Reportedly Set to Launch Buy Now, Pay Later Service | Apple | ApplePayLater | TechNews | BuyNowPayLater | AppleWallet | InstantApproval | FinancialServices | InterestFreeInstallments | MonthlyInstallments | OnlineShopping | PhysicalStores |
Apple is reportedly planning to launch its own buy now, pay later service called “Apple Pay Later.” According to reports, the service will allow users to make purchases through Apple Pay in installments and will be integrated into the existing Apple Wallet app.
Apple Pay Later will offer two options for users: the first, called “Apple Pay in 4,” will allow customers to pay for purchases over four interest-free installments. The second option, “Apple Pay Monthly Installments,” will allow users to finance purchases over several months with interest.
This Apple service is expected to be available for use both in physical stores and online, and will likely feature a quick application process and instant approval for users. Customers will also have the option to manage their payments and view their remaining balances through the Wallet app.
The move into the buy now, pay later market is a strategic one for Apple, as the service has seen significant growth in recent years. Other major players in the space include Klarna, Afterpay, and PayPal’s Pay in 4. By offering its own service, Apple can potentially capture a larger share of this growing market and further integrate itself into users’ financial lives.
While no official release date for Apple Pay Later has been announced, sources suggest that it could launch as early as later this year.