Apple Pay Later Finally Launched: Here’s How It Works – SlashGear
The concept of Apple Pay Later is similar to services offered by companies like PayPal and Klarna. Simply put, it’s a deferred payment model that allows you to effectively own something without needing to fund the entire sticker price at checkout. These services differ from traditional financing options by requiring a shorter window with faster payment frequency. The exact payment plan varies depending on the service you use, but you’ll typically see options to pay in four installments over a six-week period, with the first payment due at checkout, and the final three due every two weeks from then on, which is what Apple Pay Later has settled on.
While it’s not quite as flexible as credit card financing, this option is interest-free and requires no credit check. What’s different about Apple Pay Later is that, by this fall, it will actually report your payments to credit bureaus, so it can help build your credit profile. Apple Pay Later is rolling out in stages starting today. Eligible users in the United States (but not its territories) will get an email or a notification in Apple Wallet to be part of the prerelease version of the program. It’s unclear how long the full rollout will take, but you’ll need to ensure you’re meeting the prerequisite of owning an iPad or iPhone with iOS 16.4 or later, which is now available for all eligible devices.
For all the latest Games News Click Here
For the latest news and updates, follow us on Google News.