Apple will launch its own ‘buy now, pay later’ scheme with Goldman Sachs, a report says

Apple will launch its own ‘buy now, pay later’ scheme with Goldman Sachs, a report says

Apple is teaming up with Goldman Sachs to launch its own "buy now, pay later" service, according to a report published Tuesday. "Apple Pay Later" will be available on Apple devices via the Wallet app, allowing customers to buy products and split the payment over multiple months, people with knowledge of the matter told Bloomberg. They did not say when it was expected to launch. The service, which will rival the likes of and , will be available to use in retail stores or when buying online, the sources told Bloomberg. Users will be able to choose from two options when paying through Apple Pay Later, the people said. The first option, "Apple Pay in 4," is four interest-free payments, made every two weeks, one of the sources told Bloomberg. The second is "Apple Pay Monthly Installments," which splits payments over several months, with interest, the source added. The people didn't reveal to Bloomberg how much interest Apple plans to charge on the monthly installments option. Users will have to apply via Apple's Wallet app if they want to use Apple Pay Later, those familiar with the matter told Bloomberg. Goldman Sachs, which in 2019 to launch the credit card,