Apple jumps on buy now, pay later bandwagon with Apple Pay Later – The National

Apple jumps on buy now, pay later bandwagon with Apple Pay Later – The National

Apple unveiled a new financial product that allows users to split the cost of an Apple Pay purchase into four equal payments over six weeks without being charged interest or late fees.

Apple Pay Later marks the iPhone maker's entry into the growing buy now, pay later (BNPL) industry.

The feature is built into Apple Pay and comes with the next version of the iPhone’s operating system, iOS 16, which will be released later this year, the Cupertino-based company said as it announced a range of product updates at the Worldwide Developers Conference event on Monday.