Split purchases into 4 payments

(Pocket-lint) – Apple has entered the ‘buy now, pay later’ market with Apple Pay Later, putting it at odds with existing competition like Affirm and Klarna.

With Apple Pay Later, you can pay at any store, app or site that supports Apple Pay and spread the cost of your purchase over four payments. Here’s everything you need to know about Apple Pay Later, including when you can start using it to make your next big purchase.


What is Apple Pay Later?

Apple Pay Later is a “buy now, pay later” feature in Apple Pay. It lets you split the cost of any purchase made with Apple Pay into four payments over six weeks.

Where can you use Apple Pay Later?

Apple Pay Later is available wherever Apple Pay is accepted. The contactless payment system allows you to make purchases in physical retail stores and in mobile apps and on the web from your iPhone, iPad, Mac and Apple TV. Apple Pay is an important part of Wallet – the mobile app where you actually store the digital versions of your credit cards, debit cards, and even the Apple Card so you can pay with Apple Pay and Apple Pay Later.

Stores that support Apple Pay Later

If a store’s website or app lets you pay with Apple Pay, you can use Apple Pay Later to make your purchase and pay for it over time at no additional cost. For developers and merchants, Apple Pay Later requires no integration. It just works using the standard Apple Pay implementation, Apple said.

How does Apple Pay Later work?

When you checkout at a store, you’ll have the option to pay with Apple Pay if the store supports Apple’s contactless payment system.

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How to use Apple Pay at checkout

When you use Apple Pay, it prompts you to authenticate your identity on your Apple device via Touch ID or Face ID. Once verified, it will ask you to either pay for your purchase in full or pay later. When you choose Pay Later, you’ll see how much is due today and what your biweekly payment will be.

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How to manage payments and track orders

Upcoming payments are managed through the Apple Wallet app. It allows you to track what is due and when.

After you place your order, Apple Pay offers order tracking, allowing stores to provide you with detailed receipt and tracking information directly in Apple Wallet. Apple said Apple Pay order tracking will be offered to “millions of merchants” through e-commerce platforms starting with Shopify.

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Does Apple Pay Later charge interest?

No. Apple said there are no interest charges when using Apple Pay Later.

Does Apple Pay Later have a fee?

No. There are no fees associated with Apple Pay Later purchases.

Does Apple Pay Later perform a credit check?

With Apple Pay Later, Apple essentially offers installment loans with no fees. He said these are “subject to eligibility checks and approvals.” The company hasn’t specified what its eligibility checks include, but Pocket-lint will update this guide once more information about Apple Pay Later becomes available.

When will Apple Pay Later be available?

Apple Pay Later is a new feature in iOS 16. The public beta of this free software update is slated for this summer, followed by an official rollout in the fall.

Written by Maggie Tillman.

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