Link copied!

Comment reported!

Thank you for keeping applescoop.org safe 😃

Speaking

Photo via MacRumors

Apple Pay Later is almost here, reports suggest

88% reliable
5 mins
Comments
  • Apple Pay Later, designed to boost the company's services revenue, is set to launch soon according to CEO Tim Cook.
  • The feature will allow users to make multiple payments for their purchases and manage payments through the Wallet app.
  • During a recent call with investors, Cook mentioned that Apple Pay had a record number of purchases during the holiday season and the company's services category saw a record $20.8 billion in revenue.
  • Despite technical and engineering challenges, Apple Pay Later is expected to launch soon and provide US customers with a seamless and secure way to split the cost of an Apple Pay purchase into four equal payments with zero interest and no fees.
  • Apple Pay Later will be available everywhere Apple Pay is accepted online or in-app and use the Mastercard network.



Apple's new "Apple Pay Later" service, which has been in the works for some time, is set to launch soon, according to CEO Tim Cook. In a recent interview with CNBC, Cook confirmed that Apple employees are currently beta testing the feature, which is designed to help boost the company's services revenue. Apple Pay Later was first previewed at the Worldwide Developers Conference in June and will be similar to the buy-now-pay-later option offered by PayPal.

Apple Pay Later will allow users to make multiple payments for their purchases and will be available where Apple Pay is accepted. Payments will be managed through the Wallet app, and a purchase can be split into four payments to be made over a six-week period. The feature will provide US customers with a seamless and secure way to split the cost of an Apple Pay purchase into four equal payments, with no interest or fees. It will be built into Apple Wallet, making it easy for users to view, track, and repay their payments. Image credit: HardwareZone During a call with investors to announce Apple's first quarter results for fiscal 2023, Tim Cook mentioned that Apple Pay had a record number of purchases during the holiday season in 2022. The platform is currently available to millions of merchants in 70 countries and regions. Apple's services category saw a record $20.8 billion in revenue for the quarter, and the company has reached the milestone of 2 billion active devices.

Despite significant technical and engineering challenges, Apple Pay Later is expected to launch soon, and the company may release iOS 16.4 and other software updates in the spring. The feature will be an interesting addition for US customers as it will have zero interest and no fees. Apple Pay Later is available everywhere Apple Pay is accepted online or in-app and will use the Mastercard network.

Recommended by the editors:

Thank you for visiting Apple Scoop! As a dedicated independent news organization, we strive to deliver the latest updates and in-depth journalism on everything Apple. Have insights or thoughts to share? Drop a comment below—our team actively engages with and responds to our community.



Stories related to Apple Pay

Apple launches Apple Pay Later for select users

100% reliable6 mins

It's about time: Apple Music Classical available for pre-order, launches March 28th

100% reliable4 mins

Everything we know about MLS Season Pass on Apple TV

98% reliable4 mins

Apple Pay Later will use your past spending habits to decide your credit worthiness

88% reliable6 mins

Apple employees are already using Pay Later for testing purposes, report says

89% reliable6 mins

Apple Pay approved to launch soon in South Korea

78% reliable3 mins

Apple may release an Apple Music app for PlayStation 5

80% reliable4 mins

Apple expected to face antitrust charges in the EU over NFC chip

80% reliable6 mins

Australia to reclassify and strictly regulate Apple Pay

92% reliable4 mins

Apple Music artists can now share milestones with fans

100% reliable4 mins

New Snapchat Lens shows how Apple Pay transit works in an AR experience

100% reliable3 mins

Apple Arcade has officially gone two months without uploading a new title

91% reliable3 mins

There may be ‘a few surprises’ at the Apple Event tomorrow, new report says

79% reliable9 mins

Earth Day: Apple is donating $1 per every transaction on Apple Pay

100% reliable5 mins

Rumors persist about Apple developing an all-digital passport and ID system

64% reliable8 mins

Apple expands Find My network for third-parties

97% reliable7 mins

Apple now accepts a small number of Android phones for trade in

100% reliable5 mins

Apple introduces a new way to transfer your cloud storage

99% reliable6 mins

New Arizona legislation to allow in-app purchases outside the App Store

98% reliable12 mins

Apple Card is now offering a 3% cashback promotion

99% reliable4 mins
More stories

[Updated] The iPhone 16 Series: New Features, Pricing, and Release Date Revealed

73% reliable14 mins

Leaked Identifiers Hint at Exciting New M5 iPads for 2025

86% reliable10 mins

Apple’s Next AI Leap: Partnering with Google’s Gemini?

70% reliable10 mins

iOS 19 Development Already Underway: What’s Next for Apple?

79% reliable7 mins

Apple's Vision Pro Set for AI Overhaul: What You Need to Know

71% reliable11 mins

Apple's Secret Code Leak Reveals All iPhone 16 Models Might Share This Powerful New Chip

60% reliable7 mins

Secrets Revealed: Surprising Facts About the Creation of the Apple iPhone

100% reliable28 mins

Is Apple Working on a Smart Ring? Here’s Everything We Know

62% reliable12 mins

Apple Intelligence: Free AI Features Today, Subscription Tomorrow?

92% reliable8 mins

Apple's Next Big Thing: AirPods with Built-In... Cameras?

70% reliable8 mins

The Evolution of Apple's Chip Design: From A-Series to M-Series

100% reliable10 mins

Apple Wallet's Digital IDs: Which States Are Onboard and What's Next?

100% reliable7 mins


More stories