back Back

Apple launches its own ‘Buy Now, Pay Later’ service in Apple Pay

By Edlyn Cardoza

June 08, 2022

  • Apple
  • Apple Pay
  • Apple Pay Later
Share

Apple, Apple Pay Later, Split Purchases, Apple Pay, BNPL, Apple Wallet, NFC, iPhone, USAAccording to Apple Insider, Apple has introduced Apple Pay Later, a new feature backed into the company’s payment platform that will allow users to split purchases into separate payments.

The Buy Now, Pay Later service will allow users to split any Apple Pay purchase into four equal payments over six weeks with no additional interest or fees.

When users make an Apple Pay purchase, they’ll get the option to split the cost. The purchase page will detail how much the individual payments are and when they will be due.

Payment plans are managed through Apple Wallet. The feature is also baked into the company’s payment platform, meaning it’ll already be supported in different apps and services.

In addition to the buy now, pay later service, the payment platform also supports intelligent order tracking for purchases, allowing users to easily see when their orders will arrive in the Wallet app.

Apple Pay is a system for storing credit and debit cards in Apple Wallet that can be used via NFC, in apps, or on the web. Any iPhone, iPad, Apple Watch, or Mac can use the company’s payment platform in certain situations. While it initially launched in 2013 only in the United States, Apple Pay is available in over 50 countries and territories globally. Many major retailers accept it, and most major point-of-sale retail terminals can process tap to pay transactions.

Previous Article

June 08, 2022

ACI Worldwide enables instant shopping anywhere with new Smart Engage Platform

Read More
Next Article

June 08, 2022

Creditsafe partners with Yolt to bring a new level of business intelligence with open banking

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Apple

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

dLocal expands partnership with Deel to 12 new countries

Read More

May 17, 2024

Dwolla & Visa to enhance Pay by Bank experience for businesses

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023