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Buy Now, Pay Later: Apple Pay Later Lets You Shop Smarter on Your iPhone

Apple Pay Later launches in the United States

Buy Now, Pay Later: Apple Pay Later Lets You Shop Smarter on Your iPhone
David Bernal Raspall

David Bernal Raspall

  • Updated:

Apple has officially announced a new feature for Apple Pay that allows us to split purchases into four payments, with no interest or fees. Apple Pay Later has been designed with the financial health of users in mind, and seeks to offer a more flexible option for those looking to make purchases on credit without incurring additional expenses.

The Apple Pay Later feature is simple: users can split their purchases into four payments, and the payments are made over six weeks. There is no interest or fees associated with these payments, which means we end up paying exactly the same price for the purchase, regardless of whether we choose to pay for it all at once or split it into four payments.

One commission-free payment over six weeks

Apple Pay Later is already available in the United States, but in a staggered manner. Apple will start inviting users progressively, in order to roll out the service. One that, subsequently, should expand internationally. Jennifer Bailey, vice president of Apple Pay and Apple Wallet at Apple speaks thus of the service:

“There is no one-size-fits-all solution when it comes to managing finances. Many people are looking for flexible payment options, and that’s why we’re thrilled to offer our users Apple Pay Later.”

“Apple Pay Later was designed with our users’ financial health in mind, so it is fee-free, interest-free, and can be used and managed from Wallet, making it easier for consumers to make informed and responsible borrowing decisions.”

To get started using Apple Pay Later, we simply apply for a loan within the Wallet app. The amount to choose from ranges from $50 to $1,000. Once the request is approved, we can use the feature to make purchases online or within apps on the iPhone or iPad.

Apple Pay Later is designed to be very easy to use. Once we have approval, the checkout process is very simple. When we choose Apple Pay as the payment method, we will be offered the option to pay the entire amount in one payment or split it into four payments. Two tabs, the Continue button and, if we choose the option to split the payment, simply payments will be made automatically over the next six weeks.

All loans can be managed and viewed within the Wallet app. Both in a list format, as well as in a calendar format and with the totals to be paid clearly reflected at the top, the app shows us the next charges and the day on which we will have to cover them.

In addition, from this list we can pay in full any installment payment whenever it is convenient for us. A good way to “top up” the credit limit we have requested to make room for new installment purchases or simply to know that there will no longer be future payments. Payments, in any case, that are stretched from a debit card, not a credit card, in order to ensure that any financial obligation is covered with guarantees.

Apple Pay Later is undoubtedly good news for consumers looking for a more flexible financing option. A simple system, with no hidden fees, to split considerable payments into more manageable amounts over six weeks. A service that, from the convenience of the Wallet app, we can manage whenever we need to make the right decisions about our finances at the right time.

Some of the links added in the article are part of affiliate campaigns and may represent benefits for Softonic.

David Bernal Raspall

David Bernal Raspall

Architect | Creator and editor of hoyenapple.com | Trainer in Apple technologies | Editor at Softonic and iDoo_tech and previously at Applesfera

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