Apple to Launch 'Buy Now, Pay Later' Program in Canada Through PayBright Partnership

Apple is teaming up with Canadian payment services company PayBright to launch a buy now, pay later program for Apple products in Canada, reports Bloomberg.

paybright buy now pay later canada
PayBright, which is owned by Affirm, offers payment plans that are designed to break the cost of a purchase down into biweekly or monthly installments. PayBright already works with a number of companies in Canada including WayFair, Sephora, Samsung, eBay, Dyson, and more. "Shop now, and pay over time at your favorite stores," reads the company's website.

Canadian customers will be able to purchase iPhones, Macs, and iPhones, and pay for purchases over the course of 12 to 24 months instead of paying up front. The program will work with device trade-ins that can serve as a down payment, and AppleCare can be included in the installment plan. As a launch bonus, the new installment option will be offered interest-free for a limited time.

Apple and PayBright will debut the payment program online and in retail stores in Canada starting on August 11. Retail employees have already been informed about the initiative, according to a note sent to staff that was seen by Bloomberg. Some customers visiting Apple want to buy now and pay later. Now, they have a new option that lets them pay over time for their favorite Apple products," reads the letter.

Apple already offers installment payment plans for device purchases made with the Apple Card in the United States, but a similar program has not been available in Canada.

Last month, Bloomberg reported that Apple is working on an "Apple Pay Later" feature that will allow customers to make Apple Pay purchases with monthly installments, a program that will be separate from the new buy now, pay later initiative launching in Canada.

Apple will partner with Goldman Sachs for the ‌Apple Pay‌ Later feature, and installment payment options will be available for all ‌Apple Pay‌ purchases and will not be limited to Apple products.

Tag: Canada

Top Rated Comments

sw1tcher Avatar
12 weeks ago

Also known as: "Spend the money that You don't possess."

Buy now declare bankruptcy later...
Those aren't the only customers who use BNPL services.

For example, if I was planning to buy a 256GB iPhone 12 Pro Max for my wife and I, that's C$1689 x 2. I can easily afford the C$3378, but why pay the full C$3378 upfront when it'd be financially smarter to use their Pay-in-4 payment option or make monthly interest free payments and then invest the rest?
Score: 13 Votes (Like | Disagree)
Pearple Avatar
12 weeks ago
Also known as: "Spend the money that You don't possess."
Score: 8 Votes (Like | Disagree)
Rogifan Avatar
12 weeks ago

Hmm ? guess people not being able to pay rent has hurt Apple, so let’s over high interest financing and payment plans for a 1000 dollar device that does the same thing as a 200 dollar Android.

Apple is a disappointment
I’m paying for my new iPad Pro over time using my Apple Card. No interest involved. Same with the iPhone upgrade program. Why not pay something off over time with what’s essentially a no interest loan?
Score: 7 Votes (Like | Disagree)
Deguello Avatar
12 weeks ago
“As a launch bonus, the new installment option will be offered interest-free for a limited time.”

Just because you can afford to pay for it now doesn’t mean you should.
Score: 5 Votes (Like | Disagree)
GenesisST Avatar
12 weeks ago
Buy now declare bankruptcy later...

that being said if LEGO does that I'm screwed...
Score: 5 Votes (Like | Disagree)
no_idea Avatar
12 weeks ago

Also known as: "Spend the money that You don't possess."
And be prepared after interest to pay 3x the total price…all because you cannot control your impulses
Score: 5 Votes (Like | Disagree)

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