Tech giant Apple has launched a new ‘Apple Pay Later’ feature that allows users to split their payments into 4 instalments. This new feature also allows interest-free installments and no fees.
This new feature will allow users to split their payments into 4 installments over six weeks. They can track, manage, and pay their refunds within their Apple Wallet.
followpress releaseIt said users could apply for Apple Pay Later for anywhere from $50 to $1,000. This feature can be used to purchase different Apple devices. It can also be used for merchants that use Apple Pay.
“There is 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 are excited to bring Apple Pay Later to our users,” said Jennifer Bailey, Apple vice president of Apple Pay and Apple Wallet.
Bailey also noted that “Apple Pay Later was designed with the financial health of its users in mind. So there are no fees and no interest. and can be used and managed within Wallet, making it easier for consumers to make informed, responsible decisions.”
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