Apple Pay Later
Apple is taking its upcoming Apple Pay Later feature to the next level as the tech giant tests the service with its retail employees.
Apple Pay Later is a buy now, pay later program that will let users divide any Apple Pay purchase into four equal payments over six weeks with no extra interest or fees. The amount and due date for each installment are indicated on the purchasing page when using the feature.
As reported by Bloomberg, Apple has contacted its retail staff to offer them a test version of the service, indicating the feature is close to release.
Apple has reportedly established a subsidiary company to finance the Apple Pay Later service lending. Apple Financing LLC will be separate from the company’s primary corporate entity.
Apple Wallet is used to manage payment plans. The functionality is also integrated into the Apple Pay platform, so various apps and services will already support it.
