Apple Working on 'Apple Pay Later' Feature With Monthly Installments for Apple Pay Purchases
Apple is developing a new pay later service that will let customers pay for Apple Pay purchases in installments over time, reports Bloomberg. Installment payment options will be available for all Apple Pay purchases, with the feature not limited to Apple products.
The service is similar to Paypal's Buy Now, Pay Later feature, and internally, it's being called "Apple Pay Later."
Apple is planning to partner with Goldman Sachs on the Apple Pay installments plan, with Goldman Sachs serving as the lender for the loans needed for the monthly installment plans. Apple currently works with Goldman Sachs on the Apple Card, but the new installment plan option is not limited to the Apple Card and will not require users to have an Apple Card to use the feature. According to Bloomberg, when a user makes a purchase using Apple Pay, they will be able to pay for it across four interest-free payments made every two weeks or across several months with interest.
The four payment play is called "Apple Pay in 4" internally, while the longer-term payment plans are dubbed "Apple Pay Monthly Installments." Users will be able to choose any credit card to make their payments over time with the Apple Pay Later plan, and it is not yet clear what interest rates will be.
As with the Apple Card, Apple Pay Later users will need to be approved through an application submitted through the Wallet app on the iPhone, which is also where payments will be managed. The service will not require a running credit check. Some of the Apple Pay Later plans will exclude late fees and processing fees, costing users only interest for the longer-term plans.
Apple is hoping the buy now, pay later system will increase Apple Pay adoption and persuade iPhone users to use their iPhone to pay for items instead of standard credit cards. According to Bloomberg, the service is still in development and features could be changed or canceled before it launches.
Popular Stories
Apple should unveil the iPhone 17 series in September, and there might be one bigger difference between the Pro and Pro Max models this year.
As always, the Pro Max model will be larger than the Pro model:iPhone 17 Pro: 6.3-inch display
iPhone 17 Pro Max: 6.9-inch displayGiven the Pro Max is physically larger than the Pro, it has more internal space, allowing for a larger battery and...
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year.
In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
The calendar has turned to July, meaning that 2025 is now more than half over. And while the summer months are often quiet for Apple, the company still has more than a dozen products coming later this year, according to rumors.
Below, we have outlined at least 15 new Apple products that are expected to launch later this year, along with key rumored features for each.
iPhone 17 Series
iPho...
Apple is continuing to refine and update iOS 26, and beta three features smaller changes than we saw in beta 2, plus further tweaks to the Liquid Glass design. Apple is gearing up for the next phase of beta testing, and the company has promised that a public beta is set to come out in July.
Transparency
In some apps like Apple Music, Podcasts, and the App Store, Apple has toned down the...
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further.
Apple has a web page with a list of vehicle models that ...
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models.
Latest Rumors
These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...
New renders today provide the best look yet relocated Apple logo and redesigned MagSafe magnet array of the iPhone 17 Pro and iPhone 17 Pro Max.
Image via Majin Bu.
Several of the design changes coming to the iPhone 17 Pro model have been rumored for some time, such as the elongated camera bump that spans the full width of the device, with the LiDAR Scanner and flash moving to the right side.
...
iPhone 17 models will feature a redesigned Dynamic Island user interface, according to a post today from Digital Chat Station, an account with more than three million followers on Chinese social media platform Weibo. The account has accurately leaked some information regarding future Apple products in the past.
The account did not share any specific details about the alleged changes that are ...
Amazon is back with its annual summertime Prime Day event, lasting for four days from July 8-11, the longest Prime Day yet. As it does every year, Prime Day offers shoppers a huge selection of deals across Amazon's storefront. With the event now underway, we're tracking numerous all-time low prices on Apple gear right now.
Note: MacRumors is an affiliate partner with Amazon. When you click a...
