Apple goes for credit cards with its new microloan service

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1680174605 863272 1680174695 rrss normal.jpg

Surprise from the company with the bitten apple, which has just announced the arrival of Apple Pay Later, a new service that will allow you to finance your purchases in comfortable installments without any interest. As they have indicated in the published press release, at the moment Apple Pay Later is available in the United States, this service comes to help in the financial health of users, by being able to divide their purchases into four payments, spread over six weeks without any interest or commission. It should be remembered that in the United States you usually pay weekly, or every two weeks at the most, so this system that will allow you to finance any purchase made with Apple Pay makes a lot of sense. Apple Pay Later allows you to finance your purchases in interest-free installments As indicated in the press release, Apple Pay Later is located within the Apple Wallet app and will allow you to finance purchases by requesting a microloan of between 50 and $1,000 to buy in stores or online stores, including the App Store. The feature is already available to select users who will have access to a beta version of Apple Pay Later. If everything works as it should, in a few weeks it will reach all users who meet the requirements. “There’s no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we’re excited to offer our users Apple Pay Later,” said Jennifer Bailey, vice president of Apple Pay and Apple Apple Wallet. “Apple Pay Later was designed with our users’ financial health in mind, so it has no fees or interest, and can be used and managed within Wallet, making it easy for consumers to make informed and responsible lending decisions.” Regarding the Apple Pay Later mechanism, the truth is that it is quite simple: you will only have to request a loan in Wallet, enter the amount (50 to 1000 dollars) that you need, accept the conditions of Apple Pay Later and wait for the platform to run a credit check to help ensure the user is in good financial standing before accepting the loan. Once the loan is approved, the user will see the Pay Later option when they select Apple Pay in an online store and in the applications for iPhone and iPad, and will be able to use Apple Pay Later to make a purchase. You can even request the loan during the purchase process once you have set up Apple Pay Later and confirm that you meet the conditions. And from that moment, you will have 30 days to repay the loan. Apple Pay Later is integrated into Wallet, so users can view, control and manage all their loans in one place. >

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