Apple Pay Later, iPhone-maker’s BNPL Service, Will Let Users Split Up Purchases Into Four Payments at No Interest

Apple today announced a major update to Apple Pay, called Apple Pay Later, which will allow users to split the cost of an Apple Pay purchase into four equal payments without interest or late fees.

The new financial product — which was rumored ahead of its debut at Apple’s 2022 Worldwide Developers Conference — marks Apple’s move into the enormous and growing buy now, pay later industry. Apple Pay Later is available everywhere Apple Pay is available, both in apps and on the web — it requires no additional integration from the developer or merchant side. Upcoming payments are made, and can be tracked or managed, through Apple Wallet on iOS.