Apple Pay Later is available to everyone in the US
Apple’s buy now, pay later system is finally available to all customers in the US after its soft launch back in March. To pay later and begin making equal payments over the course of six weeks, you must be set up on Apple Pay with an eligible debit card.
There is a limit, though. Pay Later only works for purchases that cost between $75 and $1,000 made on iPhone or iPad through a vendor that accepts Apple Pay. The company says during the repayment period you won’t accumulate interest and there are no late fees. However, in the fineprint, Apple says your bank could charge you extra fees “if your debit card account contains insufficient funds to make loan repayments.” After opting to finance a purchase during checkout, your Pay Later loan and payment history gets shared with credit bureaus.
In a video tutorial, Apple breaks down how to start. Simply choose between paying in full through Apple Pay or paying later. If you choose the latter, the tool will automatically tell you how much each payment will cost every two weeks, which is subject to approval. You need to confirm your personal information and ‘Agree & Apply’ before beginning a repayment program.
Once you start making payments, Apple makes it easy to track your progress. Your total remaining balance, upcoming and previous payments are all laid out through the Wallet app. Here, you can set up autopay and change the bank or debit card you’re sourcing your payments from and if you’d like to, tap to pay early. Apple also integrated the calendar tool with the Pay Later feature so that an iPhone user can see everything they owe in a single place to keep tabs on progress.
The introduction of Pay Later puts Apple in competition with other digital repayment apps like Afterpay, Klarna and Affirm, which partnered with big tech giants like Amazon to expand their services. Roughly three in four US iPhone users have activated Apple Pay, according to the Consumer Financial Protection Bureau. The popularity of the company’s tap-to-pay tool among iPhone users could help it gain a foothold in this new market.
This article originally appeared on Engadget at https://www.engadget.com/apple-pay-later-is-available-to-everyone-in-the-us-174654047.html?src=rss
Apple’s buy now, pay later system is finally available to all customers in the US after its soft launch back in March. To pay later and begin making equal payments over the course of six weeks, you must be set up on Apple Pay with an eligible debit card. There…
Recent Posts
- Nintendo’s Orlando theme park will have Yoshi and Donkey Kong rides
- Dropbox confirms eSign tool hit by major data breach, confirms customer info leaked
- 7 Best Digital Photo Frames (2024): High-Res and Natural
- Why legitimizing Shadow IT open doors to cloud innovation
- Microsoft launches passkey support for all consumer accounts
Archives
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011