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Apple’s ‘purchase now, pay later’ service is rolling out to pick out customers proper now

Apple Pay Later on two iPhones


On Tuesday, Apple introduced it is starting to ask choose Apple Pay customers within the US to participate in testing Apple Pay Later, its “purchase now, pay later” service utilizing Apple Pay for checkout. The characteristic was first introduced final June throughout Apple’s annual developer convention. 

You want iOS 16.four or newer put in to be eligible for an invitation, however there is not any method to request entry to Apple Pay Later. It is fully random. 

Additionally: Apple Music Classical app is now obtainable for obtain

Image of Apple Pay Later on an iPhone.


If you’re chosen, you may see an alert within the Pockets app letting you already know you’ll be able to apply and get pre-approved on your first transaction. You possibly can request to take out a mortgage between $50 and $1,000. Throughout the signup course of, you may be requested to substantiate your private info, and Apple will do a comfortable credit score examine to confirm your info and examine that you just’re in good monetary standing.

When you’re permitted, you should use the mortgage quantity to make a purchase order on-line or in an app with Apple Pay as a checkout possibility. Sooner or later, Apple will permit customers to use for Pay Later loans through the Apple Pay checkout course of. 

Additionally: How you can use Apple Pay in shops and on-line

The whole mortgage quantity will likely be cut up into 4 funds over six weeks. The primary cost will likely be due at checkout, with the remaining three funds charged to your debit card each two weeks. You possibly can’t use a bank card for cost — it is a part of Apple’s philosophy to assist its customers make wholesome monetary selections.

There aren’t any charges or curiosity costs for utilizing Pay Later. Even if you happen to miss a cost, Apple is not going to cost you something further. Nevertheless, you might not have the ability to use Pay Later once more sooner or later. 

Additionally: How you can add your driver’s license to the Apple Pockets app

Proper now, your Pay Later loans will not be reported to any credit score bureaus. However when Apple makes Pay Later obtainable to everybody this fall, the corporate will even start reporting your loans to the credit score bureaus, and any late or non-payments might have an effect in your credit score rating. 

Pay Later customers aren’t restricted to a single mortgage. You possibly can apply for extra loans, each requiring a comfortable credit score examine, handle your entire funds, and even view your cost schedule on a calendar straight within the Pockets app in your iPhone.

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