It was said today by Apple CEO Tim Cook in an interview with CNBC that the new feature Apple Pay Later will be launching “soon.”
Apple Pay Later was originally announced by Apple at WWDC 2022 and is said to be a way for shoppers to make purchases with Apple Pay, but to not have to pay for the entire purchase all at once.
With Apple Pay Later, the service would enable Apple Pay users to pay four payments over six weeks with 0% interest on the payments and no fees, with users’ financial health being at the forefront of the feature.
The feature is said to be available when initially making a purchase with Apple Pay online, but users can apply for Apple Pay Later to be applied to an in-store purchase through the Wallet app, which is where all of the payments would be made.
There is still no exact release date for Apple Pay Later, by Bloomberg’s Mark Gurman has speculated that the feature could be available in the iOS 16.4 update, which could be released this spring.
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