Great innovation from Apple! Buy now, pay later
Apple's retail staff is reportedly testing a great innovaion. Here are all details for 'buy now, pay later' service.
Bloomberg reports that Apple has expanded the internal testing to include its retail staff for the buy now, pay later functionality of its Pay service. It's usually a clue that a product is about to be deployed soon when the tech giant's retail personnel starts using its experimental features.
Great innovation from Apple! Buy now, pay later
Staff at the company's HQ visitor center tested Tap to Pay before the first partner firms like Square and PayPal introduced support for the payment option. In 2019, a month before the company's credit card was made accessible, employees at Apple Stores began testing it. The pay later feature for Apple Pay was originally introduced by the tech giant at its WWDC event in June 2022. When iOS 16 was intended to launch, the company modified.
When Apple first announced pay later, the company said that customers would be able to divide the cost of goods into four equal payments over the course of six weeks with no added interest or fees. Gurman has now revealed that the business is also collaborating with Goldman Sachs Group to provide a choice that spreads the cost of significant purchases over a number of months with interest added on top.
