Published on October 27th, 2023
Apple recently caught everyone’s attention by announcing an upcoming product event, but the surprises from the tech giant didn’t stop there.
They have now officially launched Apple Pay Later in the United States, a payment-related feature that has been widely anticipated.
This service is prominently featured on Apple’s website, and it offers qualified customers the ability to split their purchases into four manageable installments.
Each of these payments is scheduled every 14 days, spanning over a convenient six-week period, all without incurring any interest charges on eligible transactions.
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The “buy now, pay later” concept has gained popularity, with companies like Klarna and Affirm leading the way.
It’s particularly beneficial when making substantial purchases, such as premium earbuds, stylish shoes, and more.
Apple’s version of this service is applicable for transactions falling within the price range of $75 to $1,000.
When making a purchase, simply select Apple Pay at checkout, and you’ll notice a dedicated “Pay Later” tab that you can tap to initiate the application process.
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Once you’re approved, you’ll receive a detailed breakdown of the payment schedule and the corresponding payment amounts.
Importantly, Apple assures users that these transactions will not impact their credit score adversely, and you’ll receive timely reminders before each payment, helping you plan your finances effectively.
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Apple initially introduced Apple Pay Later back in 2022, following which they conducted a soft launch of the feature in March 2023.
However, during the initial stages, it was made available in an “early access” capacity, with a planned staggered release.
This meant that only a select group of iPhone users could enjoy the benefits of this feature until now.
Apple Pay Alternative
- Google Pay
- Samsung Pay
- Cash App
- Samsung Money by SoFi