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Apple Pay Later introduced to iPhone and iPad users starting today
Apple Pay Later is rolling out to US consumers starting today, but not everyone will get it right away. Here's what in the fine print.
➡️ The Shortcut Skinny: Now & Apple Pay Later
🍎 Apple Pay Later is launching in the US on iPhone and iPad devices
💵 Finance online and in-app purchases ranging from $50 to $1,000
⏲️ Split purchases into four payments spread over six weeks
No interest and no fees, but banks may charge insufficient fund fees
✉️ Invites roll out today and to all eligible users in the coming months
Now is the time for Apple Pay Later to finally launch for the iPhone and iPad, and it’s going to make financing online and in-app purchases a bit easier for some people.
This is Apple’s overdue buy now, pay later financing program – first announced at the company’s WWDC keynote last year – that allows you to split purchases ranging from $50 to $1,000 into four payments spread over six weeks.
All Apple Pay Later loans can be repaid in the neat-and-tidy Apple Wallet, according to today’s Apple press release. I’ve enjoyed the Wallet interface for my Apple-branded credit card (also through Mastercard and Goldman Sachs just like this installment program), and sure enough, this payment UI looks easy to understand, too.
You’ll be able to view, track and manage all of your loans in one place, according to Apple and notifications will surface to remind you of soon-to-be-due payments.
Apple Pay Later fine print
Just note about Apple Pay Later’s fine print: while you can link a debit card to repay your loan automatically at monthly intervals, you won’t be able to do the same with a credit card. Apple says this is a way to prevent users from taking on more debt when they try to pay back their existing Apple Pay Later loans.
There’s no timetable for Apple Pay Later to launch outside of the US, but here’s to hoping it’ll be available to everyone in the United States by the time the iPhone 15 Pro Max release date rolls out in September with fancy new iPhone 15 colors (although… I think that high-end version will be over the $1,000 limit).