Apple has just introduced Apple Pay Later, which allows users to split their purchases into 4 payments over the course of 6 weeks. This option will be available for online or in-app purchases where Apple Pay is accepted.
“There’s no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later,” said Apple’s vice president of Apple Pay and Apple Wallet, Jennifer Bailey. “Apple Pay Later was designed with our users’ financial health in mind, so it has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions.”
A great thing about this payment option is that users won't be charged with interest or extra fees on purchases. In order to use Apple Pay Later, users must link their debit card to make the payments, which will be automatically taken out in the installments. Would you be interested in using Apple Pay Later? Click here for more.