agencies
Wednesday, March 29, 2023 at 08:00 p.m
Apple has introduced Apple Pay Later, which will allow users to split purchases into 4 payments over 6 weeks, CNBC reported.
users, the company said in a statement Apple Pay They can then manage, track and repay their loans in their Apple Wallet. Individuals can apply for $50 to $1,000 in Apple Pay later credits and use them for in-app and online purchases made through merchants that accept Apple Pay.
It states that the payments carry no interest or fees.
The MasterCard installment program enables Apple Pay later, so merchants that accept Apple Pay don’t need to make any changes to enable the program for their customers.
Apple said users can apply for a loan in the Apple Wallet app without affecting their credit score, and once they’ve selected the amount they want to withdraw, the loan will be withdrawn to ensure they’re in “good financial standing” to receive it. debt.
This will give some people access to a trial version of Apple Pay later, and the company said it plans to expand the service to all eligible users in the coming months.
Authorized users will see the option to pay later when they use Apple Pay to pay online and in apps on their devices. iPhone and iPadAfter confirming the purchase they can also apply for the loan.
Purchases will be authenticated using software using Face ID, Touch ID or a passcode, Apple said.
The company said that users can view the balance of their current loans and the total amount due in the next 30 days in Apple Wallet. Users must link a debit card as a payment method, and credit cards are not accepted.
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