Apple Pay Later, the buy-now-pay-later service that Apple introduced in 2022, is about to launch quickly in keeping with CEO Tim Prepare dinner.
Prepare dinner was talking as a part of Apple’s quarterly earnings outcomes with CNBC (opens in new tab) reporting that prepare dinner confirmed “it will likely be launching quickly,” though he stopped in need of saying precisely when that may be. The report additionally claims that Apple workers are already beta testing the function.
The Apple Pay growth will enable prospects to unfold the price of purchases made utilizing their iPhone, iPad, Apple Watch, or Mac.
$1,000 most
Apple hasn’t provided up all that many particulars about how the Apple Pay Later function will work, however it seems that individuals will solely have the ability to spend as much as $1,000 when utilizing it. That implies that you can choose up an iPhone 14, however shopping for the greatest iPhone Apple sells — the iPhone 14 Professional Max — is a non-starter.
As for the way it’ll work, it sounds surprisingly easy. Purchases will probably be made by way of Apple Pay after which break up throughout 4 equal funds over the course of six weeks. If that sounds much like what corporations like PayPal, Affirm, and Klarna provide, that is as a result of it’s.
Apple Pay Later purchases will probably be interest-free, and there will probably be no charges past any doable overdraft charges utilized by a consumer’s financial institution.
When it comes to availability, Apple Pay Later will probably be a U.S.-only affair, and whereas Prepare dinner says it’s going to launch quickly customers will seemingly want software program updates to allow it on their units. It appears like iOS 16.3.1 is within the works — may that deliver Apple Pay Later to market?
If not, it appears almost definitely that iOS 16.4 would be the replace we’re ready for. That hasn’t but entered beta testing, however it’s thought it may be made accessible for builders to obtain as quickly as subsequent week.
