Later this fall, Apple Pay Later will let customers in the United States pay for online and in-app purchases through a six-week installment plan with no interest or fees.
Previewed at WWDC, Apple Pay Later will let customers split a purchase into four equal payments paid over the course of six weeks. Apple Pay Later will include zero interest and no fees and will be available "everywhere Apple Pay is accepted," according to Apple.
Inside the Wallet app, users will see a new overview of all of their upcoming payments and how much they owe and can set a personal budget. Apple says that Apple Pay Later will only be available to qualifying applicants, but no further details have been shared.
Apple has expanded the number of major U.S. cities where its Apple Pay for transit feature is supported, providing a simple way for those who use public transportation to pay for rides.
Apple Pay for transit now works in Atlanta, the Bay Area, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Orange County, Philadelphia, Portland, San Diego, Seattle, and Washington, DC.
Some...
If you pay for certain iCloud+ storage plans beyond the 5GB that Apple offers for free, you will receive two more perks on iOS 27 at no additional cost.
A summary of the two new iCloud+ perks on iOS 27:Increased daily usage limits for some new Apple Intelligence features, including image generation in the revamped Image Playground app.
HomeKit Secure Video cameras receive generated video...
Apple supplier Tata Electronics recently suffered a cyberattack that resulted in thousands of confidential files being published on the dark web, and this reportedly included some photos and documents related to the upcoming iPhone 18 Pro.
We have elected not to share any of the leaked photos in this story due to the illegal nature in which they were obtained, but they can easily be found...
I find the 3 x fortnightly payment thing a bit strange. The use case for this would normally be to spread the cost across salary payments which, in the UK, normally happen monthly. I appreciate this is US only, so perhaps the payment frequency is different in the US?
US workers generally get paid fortnightly, and this is a US-only feature for now. Here in the UK it is common to have a credit card where, if you pay back your debt monthly with direct debit, you end up having ~1.5 month interest-free (I have that with my Amex). PS autocorrect wrote that US workers get laid fortnightly, does Apple know something I don’t?
Well that would be the fiscally responsible thing to do... but so many people lack the discipline to do that.
(those with such discipline, as well as not spending everything they make, typically don't use buy-now-pay-later financing...)
Paying cash when you can get an interest-free loan is not smart, financially speaking.
I can afford to buy anything that Apple currently sells in online store, but given the choice between paying all upfront, or paying over time, I would choose paying over time, every time, and I do.
Now, if there was a discount for cash, that would be a totally different story.
For more info about Buy Now, Pay Later (BNPL), CNBC ('https://www.cnbc.com/2022/05/13/buy-now-pay-later-is-not-a-boom-its-a-bubble-harvard-fellow-says-.html') has some good articles. Search for "BNPL"- this is still a new 'product' in the US, "without much regulatory oversight, the BNPL market currently exists in “a legal gray space,” according to Lux."
The merchants / stores are able to ring up higher purchase totals; the banks loaning out the money are making their money through late fees, etc.
Good point...I was thinking about the money they make if the customer pays on time...the banks stand to make even more money on late fees, etc if the customer pays late. They only lose in a complete default which is probably relatively rare given the short terms and relatively low amounts of the funding.
Bleagh, now that it's clear what this product really is, it feels pretty unsavory for Apple to be getting involved with it.
Apple's first foldable iPhone, with a book-style design featuring a ~5.5-inch outer display and a ~7.8-inch inner display with a minimal crease down the middle.
