Apple launches its buy now - pay later service

Sylvie Claire / June 7, 2022

In the U.S., starting this fall, approved users who use Apple Pay will be able to choose to pay for a purchase in four installments spread over six weeks, without interest or fees of any kind.
Apple Pay Later, the new feature, makes it easy to view, track and pay back, details the statement of the Californian group.
Its executives on Monday introduced a battery of new tools and improvements to its mobile operating system, iOS 16, which will be automatically installed on its smartphones in the fall.
The service will depend on the Mastercard network, but Apple did not specify which bank would be responsible for the credits. Bloomberg had mentioned Goldman Sachs last year.
The Apple brand has broadly diversified its services and revenue streams in recent years to entice users of its devices to stay in its ecosystem, from communication to entertainment to work to online shopping.
This time, it is entering a gap already well exploited by other companies such as Affirm (partner of Amazon and Stripe, in particular), Afterpay, Klarna or PayPal.
For its promoters, this method of financing is a less risky alternative to credit cards, which charge interest that is often complicated to understand and can quickly add up.
Grand View Research estimates the global buy now - pay later market at $5 billion in 2021, and predicts it will approach $40 billion by 2030.
      HTML Image as link                              

Related Posts

Twitter "temporarily" restricts the number of tweets read per day
Steph Deschamps / July 3, 2023   Elon Musk has announced that Twitter will temporarily restrict the reading of tweets...
Read More
Apple Keynote: $3,500 headset announced, here's everything you need to know
Apple Keynote: $3,500 headset announced, here's everything you need to know
Eva Deschamps / June 7, 2023 Apple has taken everyone by surprise by unveiling an augmented reality headset, rather ...
Read More
Hogwarts Legacy
Hogwarts Legacy": the video game of the Harry Potter saga reaches a billion dollars in revenues
Steph Deschamps / May 7, 2023 The Hogwarts Legacy video game from the Harry Potter universe has sold more than 15 m...
Read More