Apple Pay Later is the organization’s interpretation of a buy now, pay later (BNPL) service
Apple is launching a new feature for Apple Pay to allow you to pay for buys in four installments over time without interest, called Apple Pay Later. It’s Apple’s take on a buy now, pay later (BNPL) service, incorporated directly into Apple Pay and coming with iOS 16.
Buy now, pay later services have been on the ascent. You’ve presumably seen names like Affirm or Klarna while shopping on the web, and Block (previously Square) jumped into the space incredibly with its acquisition of Afterpay. Apple has been supposed to be dealing with its own help for some time, and it appears as though what was reported Monday at WWDC will be a natural extension of the organization’s procedure to urge individuals to purchase things using Apple Pay.
You’ll have the option to pay for installments over six weeks. You’ll pay the first payment front and center and the other three every two weeks. Payments are managed in the Wallet app, and you can pay them ahead of time assuming you want.
“Users can apply for Apple Pay Later when they are checking out with Apple Pay, or in Wallet,” Apple said in a press release. “Apple Pay Later is available everywhere Apple Pay is accepted online or in-app, using the Mastercard network.”
Apple Pay Later is one of the numerous declarations previously uncovered at WWDC for iOS 16, including order tracking, editable texts, and a revamped lock screen.