Apple Pay is one of the most successful services for the ship’s company and a “ buy now , pay up later on ” option may be coming to user before long . consort toBloomberg , Apple is now expand its testing of the service to its retail employees , indicating that a release to the general populace is occlude .
Apple Pay Later allows customer to divide a purchase made using Apple Pay into four installments that is pay over six weeks without interest or fee . Apple Pay Later is backed by a new Apple subordinate call Apple Financing LLC , which means Apple handles the lending on its own .
Apple ’s conclusion to make its own funding subsidiary is interesting because it falls in line with Apple ’s evolving business exercise of developing its own processes , parts , and services instead of swear on partners . The full-grown model of this is with its processor , using its own silicon in its devices instead of relying on Intel or Samsung . Apple is also work on its ownWi - Fi chipand cellular modem , but growing on those have hit several roadblocks .
Apple introduced Apple Pay Later at WWDC last year and was going to let go of it with iOS 16 last September . Apple retard the service to solve out “ technical challenge ” with its new in - house financial platform , accord to Bloomberg .
Bloomberg also reported that an Apple Pay Monthly plan is in the work , which has instalment over several month with interest . Apple Pay Monthly has yet to be formally announced and is being developed with Goldman Sachs , the house that partner with for theApple Card . It ’s ill-defined if the Goldman Sachs partnership will be in place if and when Apple Pay Monthly launches , or if Apple will alternate to its Apple Financing subsidiary .
