Although Apple Pay Later was recently announced at the WWDC 2022, the feature for buy now and pay later hasn’t yet been released to the public. This could change soon, as a report from the company states that they have already started expanding an internal test of the feature to the many retail employees that the company has. This could be a sign of the feature that has been finally nearing a release for the public.
The CEO of Apple, Tim Cook, also touched upon the release of this feature alongside the earnings of the company the previous week. At this time, the CEO stated that the feature was already being tested by many Apple employees. A report from Bloomberg has also indicated that the test has been expanded quite significantly.
Apple Pay Later Could Be Introducing A New Feature
For those unaware of the latest developments taking place in the company, Apple Pay Later is the new financial service that will allow customers in the country to split all of their purchases into four payments of equal value across six weeks, with no interest or fees. This feature will be made available to all those places where Apple Pay is accepted in-app or online. The company described this feature by stating that this was a secure and seamless way to split the cost of any Apple Pay purchase into four separate but equal payments which were to be spread over six consecutive weeks.
Another report from Bloomberg states that Apple is also in the process of creating a version of Apple Pay Later which will be called Apple Pay Monthly Installments. This would allow the users to split all of their larger purchases into equal payments over a considerably longer period of time. The longer payments could carry interest fees, unlike the short-term installments.