Recently the tech giant Apple released a new affordable service named Apple Pay later that gives flexibility to Apple users to take a loan amount anywhere between $50 to $1,000 without paying any fees or interest.
Yes, you read that right.
The multinational company Apple has always been in news for launching premium products ranging from phones to updates and features to provide seamless service to users. The company is committed to enhancing the experience of its customers. Further, the brand is known for providing high-quality products and services. The tech giant keeps working hard to make things more convenient for its users.
Recently, Apple introduced the Apple Pay Later service for users and announced the news through a press release. The service allows users to pay for products in installments. That’s not all! There is a lot more about Apple Pay Later service that may amaze you.
In this all-inclusive blog, we have mentioned in-depth information about this new service in detail. So, without further hold, let’s get started.
An Overview Of Apple Pay Later
Apple Pay Later supports the concept of ‘buy now and pay later’, thereby giving you the flexibility to buy your favorite product without making full payment at the moment.
Currently, this service is available for the U.S. population who are free to take loans ranging between $50 to $1,000 that too free of interest and fees. It is very easy to repay your loan amount in 4 installments within a period of 6 weeks.
Individuals can use this loan amount for online or in-app buys on iPhones and iPad with merchants approving Apple Pay as a payment mode. Further, users can manage these payments and keep track of their spending via Apple Wallet.
Who Can Use Apple Pay Later Service?
As per the company, initially only selected users will be able to use an ‘Apple Pay Later pre-release version’. However, the company is even considering offering the service to all eligible customers in the upcoming months.
Vice president of Apple Pay, Jennifer Bailey stated, “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.”
She further said that Apple Pay Later has been designed considering the financial status of users, thereby, they need not pay fees and interest. Further, the ease of managing this service within Apple Wallet will help users to make the best and most informed financial decisions.
How To Access Apple Pay Later Service?
The company also mentioned how to use the Apple Pay Later service with ease. All you need to do is apply for a loan using your Apple Wallet.
It is very simple to find Apple Wallet on your phone. Just search and type ‘Wallet’ in the search section. Once you have landed on your Apple Wallet service, enter the required loan amount and agree to Apple’s terms. Before Apple approves your loan amount, a soft ‘credit pull will be carried out during the application process. This step is vital to make sure that the user has a good financial position.
After the approval of the loan, users will see a Pay Later option when they purchase products online and in apps via Apple Pay. To people’s knowledge, Apple Pay is a popular mobile payment service that lets Apple users make payments easily and quickly.
Above all, Apple Pay Later is an easier and more cost-effective payment service for Apple users. From attracting more customers to boosting sales, and enhancing customer experience, the service offers a whole host of benefits to both company and customers.