Apple Pay Later is available for purchase today, allowing customers to “buy now and pay later” with no interest

Apple Pay Later

Apple Pay Later launches today. Apple will “begin asking select users to access a prerelease version of Apple Pay Later” at launch. “All eligible customers in the coming months” will use it in the US.

Apple Pay Later: Everything you need to know

Apple Pay Later, a new financial tool from Apple, lets US users split purchases into four equal payments over six weeks without fees or interest. Apple Pay will support the feature online and in-app. WWDC 2022 announced Apple Pay Later, which is already launching.

Apple Pay Later offers “flexible payment choices,” according to Apple Pay and Apple Wallet vice president Jennifer Bailey. “Designed with our users’ financial wellbeing in mind,” Bailey adds.

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. 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.

Users apply for loans on the iPhone Wallet app. Apple says this will “never damage their credit,” but loan and payment history “may be reported to credit bureaux and impact their credit” following a purchase. You can borrow $50–$1,000.

Picture – 9to5mac

Apple claims a mild credit draw will be done during the application process to ensure the user is financially stable before taking out the loan.

The loan can be used for iPhone and iPad Apple Pay purchases online and in-app. When setting up Apple Pay Later for the first time, you can request for a loan in the checkout flow.

Apple underlines that shops need do nothing to implement Apple Pay Later for customers. Apple says users can use Apple Pay Later during checkout online and in apps on iPhone and iPad if a merchant accepts Apple Pay. Mastercard Installments enables Apple Pay Later.

Wallet manages Apple Pay Later loan repayments. The app displays the total amount owing for all your debts and the next 30 days.

Before a payment is due, users will also receive notifications via Wallet and email so they can plan accordingly. Users will be asked to link a debit card from Wallet as their loan repayment method; to help prevent users from taking on more debt to pay back loans, credit cards will not be accepted.

If you’re one of the first to use Apple Pay Later, check your iPhone’s Wallet app.



Kami bergerak dalam satu pasukan cuba menyampaikan berita-berita terkini tentang teknologi. Kami turut menjalankan aktiviti menterjemah beberapa blog dan berita dalam bahasa Inggeris ke dalam Bahasa Melayu.

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