Apple Pay Later will be available soon

Being able to buy things and pay for them later is something that has existed for a long time. Until now it was a bank service through, normally, credit cards, but now the payment service, Apple Pay, is being tested by Apple and that the payment comes later. What has been called Apple Pay Later. The CEO of the company, Tim Cook, has warned that soon we will have it available making purchases easier for users and the company can generate more revenue.

Apple Pay Later was first introduced at the Worldwide Developers Conference in June. It is similar to the buy now pay later feature offered by PayPal, Affirm and Klarna. And it is designed to allow users to make multiple payments for their purchases. Tim Cook said Apple employees are beta testing the Apple Pay Later feature, which will help Apple increase service revenue and that it could be released very soon.

Normally, purchases made with this service can be paid for four equal payments that must be made over the course of six weeks. The company has confirmed that it is using the Mastercard network to offer the service, the same network you use for your Apple Card credit card.

Bottom line: Apple Pay Later is technically a lending service, so Apple will need to run a credit check and make a decision about whether or not to offer you the loan to be used to finance a purchase. Apple is using its own subsidiary, Apple Finance LLC, to handle credit checks, decision making and lending. It will be possible to borrow up to a maximum of 1000 dollars, we will have to wait until it arrives in Europe (Spain), but we assume that it will be a similar amount.

The best is that there will be no interest or fees or commissions of any kind.