Apple Pay Later is the Cupertino tech giant’s take on the “buy now, pay later” service and is an addition to the company’s growing financial services. However, it’s currently only available in the United States.
As most of you already know, the Apple Pay Later service lets you purchase any goods or services and split it into four installment payments for six weeks with no fees and even no interest.
As if the exclusivity to the US is not limiting enough, Apple is apparently launching the device on an invite-only system — at least for now until the full release happens “in the coming months.”
Going back, the new Apple Pay Later feature will live inside Apple Wallet — and considering how many in the world use an Apple device with an Apple Wallet, we won’t be surprised if Apple Pay Later will also make it big, beating other competing services in the market.
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So, where can you use Apple Pay Later? As per the company, you can use it as a mode of payment for online and in-app purchases on your iOS and iPadOS devices running on version 16.4 or later. Plus, on merchants that accept Apple Pay.
Those in the US can apply for a loan of USD50 to USD1,000 with the service. If approved, the Pay Later option will be available when you choose Apple Pay when checking out on apps and online stores.