The company behind the iPhone, Apple, has introduced a new innovative payment system called Apple Pay Later, as part of the new service included in iOS 16.

This new feature is made to support Apple’s payment platform which will permit its users to split purchases and pay into separate payments. There will be a feature wherein Apple users will have the option to split the payments of their purchase into four equal payments which could be paid over six weeks with no added interest.

Users will have the opportunity to split the cost of their transaction when they make an Apple Pay purchase. On the purchase page, they will see a breakdown of how much each individual payment costs as well as the date on which it must be paid.

Apple Wallet is the application that handles the management of payment plans. Additionally, the feature is integrated into the Apple Pay platform, which means that it will already be available in a wide range of services and mobile apps once released.

Apple Pay also enables intelligent order monitoring for purchases, in addition to the buy now, pay later option. This allows consumers to simply check when their goods will appear in the Wallet app.

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