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    Read How Apple Plans To Run Its Buy Now, Pay Later Service

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    By Varushi Yadav | 
    Updated: 11th Jun 2022 11:02 IST

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      Apple’s Buy Now, Pay Later Feature Will Be Available Later This Year

    Highlights of the Story

    • Apple is officially entering the financial space with its own buy now, pay later service.
    • Information was announced at the WWDC 2022 this week.
    • The company is offering people the chance to make the payment in four equal installments.

    Apple is officially entering the banking sector with its own buy now, pay later service, which was out this week at WWDC 2022. The corporation mentioned giving individuals the option of paying in four equal instalments. It got people debating about the nature of this service, how the business plans to offer payment, who is supplying the loans, and whether or not Apple will collaborate with a financial service for this option.

    Also Read: Amazon Back To School Sale: Buy These Laptops At Amazing Prices!

    Apple’s Buy Now, Pay Later Feature Will Be Available Later This Year

     Buy Now, Pay Later

    It turns out that Apple, a firm worth trillions of dollars, will supply the loans. As part of the Apple Pay ecosystem, the corporation will establish a subsidiary to handle this activity.

    And there is the basic operating word: utilising Apple Pay to purchase the products, which allows customers to divide their purchase into four equal instalments to be paid within six weeks or two months.

    Also Read: iOS 16 vs iOS 15: What’s Same And What’s Different?

    Apple also has its own Apple Card for consumers, which came in collaboration with Goldman Sachs. However, according to reports, the Cupertino-based company will not use Goldman to make loan approval decisions, but will instead do so on its own.

    When iOS 16 will be coming later this year, Apple Pay Later will be available. It will initially be available in the United States before expanding to other countries in the near future.

    With the Apple Card and now Apple Pay Later, it’s safe to argue that Apple is no longer only a hardware and software company. It has major financial ambitions, and given the company’s market capitalization.

    Also Read: 3 New Features You Must Know About iMessage



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