after suffering multiple delaysApple Pay Later finally lands as it begins rolling out to randomly selected users across the United States.
Originally, the service was scheduled to launch alongside iOS 16 in September 2022, but the developers ran into problems. Various “technical setbacks”. Apple Pay Later (opens in new tab) You can apply for a loan from $50 to $1,000 and buy whatever you want without paying the full amount up front. From there, the user will pay that amount in four installments over her six weeks. No interest or additional fees. $1,000 is a good amount of change, but it’s not guaranteed. Eligibility depends on credit score. A low number history qualifies for a smaller loan.
This feature has its home in Apple Wallet. (opens in new tab) It comes with a detailed calendar that reminds you of upcoming payments. If you’re having trouble paying, Apple will work with you to create a new plan. If you still can’t pay it back, you won’t be eligible for future loans. Customers must connect a bank or debit card to their account before they can use their money. As Apple states in its release, credit cards cannot be used to “prevent users from incurring additional debt to pay off their loans.”
Before you can apply, you must first meet some basic requirements. This feature is currently not available in Hawaii, Nevada, New Mexico, North Carolina, Wisconsin, and all US territories. Apple Pay Later is currently available in 45 states. At this time, people living in Hawaii, Nevada, New Mexico, North Carolina, Wisconsin, or US territories cannot access this feature. Must be 18+ (she must be 19 if living in Alabama) and live in a supported state with a valid physical address.
In terms of hardware, you’ll need an iPhone or iPad updated to iOS 16.4 and iPadOS 16.4, respectively, with two-factor authentication enabled.
Once everything is in order, you can apply through Apple Wallet from the options at the top. Note that companies do “soft credit pulls” to see if they are in “good financial standing” to borrow money. If you are rejected, you will receive an email from Apple explaining why you were not selected.
However, there are some rules for how to use the loan.
Money is for purchase checkout page[後で支払う]It appears below the options and can be used for all 30 days. After that period, you will need to apply again. Any money you have left over cannot be reused elsewhere, so whatever you get must be used in one big order. Additionally, this loan is only accepted at online retailers and apps that support Apple Pay. are not compelled to buy Apple technology. Valid for purchases of multiple products from one retailer. Apple will not be able to see the details of the transaction (Xbox Series X and Sonic Colors Ultimate purchases on Target.com will not be judged).
Pay Later does not currently support in-store payments.
Apple Pay Later customers don’t have to pay any fees, but Apple could get some benefit from the program by reducing the fees that installment plan provider Mastercard charges retailers.
The company intends to increase the loan to $1,000. For more expensive purchases such as the MacBook Pro, Apple recommends using something like the Apple Card. (opens in new tab) Pay monthly instead of weekly. There are plans to expand support to all eligible customers in the US later this fall when Apple Financing, LLC begins reporting to US credit bureaus. Unfortunately, there are currently no plans for a global launch.
Hopefully there will be. Until then, if you’re looking for a new device, check out TechRadar’s list of the best iPhone models for 2023.