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Apple Pay Later is now available to all users in the US

Apple Pay Later is now available.
Apple Pay Later is now available.

Apple Pay Later is now available to all users in the U.S. After first making Apple Pay Later available to a select group of customers back in March; Apple is now providing it to all users in the United States.

With Apple Pay Later, customers may divide the price of an Apple Pay purchase into four equal installments, interest-free, spaced six weeks apart. The firm initially revealed the functionality during its Worldwide Developers Conference (WWDC) in June 2022.

According to the tech giant’s website, Apple Pay Later is now available for iPhone and iPad purchases between $75 and $1000.

You must apply for a loan using the Wallet app to use Apple Pay Later. After agreeing to the Apple Pay Later conditions, you will be prompted to enter the amount you wish to borrow. When you choose Apple Pay at online checkout and in apps on your iPhone and iPad, you will see a “Pay Later” option after being accepted.

You will see an overview of your four new payments and your other impending Apple Pay Later payments before you finish a transaction using Apple Pay Later. You may decide whether to make these payments manually or through autopay. When your payment deadlines draw near, you’ll receive notifications and reminders and have access to all of your payment details through the Wallet app.

According to the tech giant’s website, your bank could charge you penalties if there isn’t enough money in your debit card account to cover loan repayments.

Eligibility for Apple Pay Later requires a physical U.S. address, citizenship, or lawful permanent residence in the United States and a minimum age of 18. Additionally, you must configure Apple Pay on your iPhone using an accepted debit card. Apple mentions you might need to present a driver’s license or official state picture ID as identification.

Apple Financing manages the credit evaluation and lending for Apple Pay Later. From a merchant perspective, Apple Pay Later is made possible by the Mastercard Installments program, and the Mastercard payment credential used to make all Apple Pay Later transactions is issued by Goldman Sachs.

With this broader release, buy now, pay later (BNPL) services from PayPal, Affirm, Klarna, and several more companies directly compete with Apple Pay Later.

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