Apple Pay is getting in on the buy now pay later boom with a feature allowing users to split purchases into four separate payments over six weeks at no additional cost or interest.
Apple Pay Later loans range from $50 to $100 and can be made for online and in-app purchases on iPhone and iPad, as long as the merchants accept Apple Pay.
On Wednesday, the company started inviting select users to test out the feature and said it plans to make it available to all eligible users in "coming months."
“There’s no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later,” said Jennifer Bailey, vice president of Apple Pay and Apple Wallet.
“Apple Pay Later was designed with our users’ financial health in mind, so it has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions," she added.
The feature will be integrated with Apple Wallet, so users can track and manage their loans.
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
