Apple Pay Later Will Let You Pay for Purchases Through an Installment Plan With No Interest or Fees
Later this fall, Apple Pay Later will let customers in the United States pay for online and in-app purchases through a six-week installment plan with no interest or fees.
Previewed at WWDC, Apple Pay Later will let customers split a purchase into four equal payments paid over the course of six weeks. Apple Pay Later will include zero interest and no fees and will be available "everywhere Apple Pay is accepted," according to Apple.
Inside the Wallet app, users will see a new overview of all of their upcoming payments and how much they owe and can set a personal budget. Apple says that Apple Pay Later will only be available to qualifying applicants, but no further details have been shared.
The development of Apple Pay Later was first reported by Bloomberg in July 2021. Apple Pay Later is one of several new features coming to the Wallet app with iOS 16, including a built-in parcel and order tracking.
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