Apple may finally make Pay Later available with the release of iOS 16.4, the next version of the operating system expected to be released in March. The big tech shopping installment service was announced during the 2022 WWDC, but so far, it has not appeared in any of the latest software updates.
New information revealed by the Bloomberg on Tuesday (07), on the other hand, state that Apple brick-and-mortar employees began testing a “beta version” of Pay Latersuggesting that the feature will finally be introduced for consumers who want to pay in installments using Apple Pay on iOS.
The service will be managed by Apple Financing LLC, a new subsidiary of the manufacturer especially focused on Pay Later. This new payment method will allow users of the company’s digital wallet split purchases in up to four equal payments spread over up to six weeks – Subject to credit approval.
Apple is working in partnership with Goldman Sachs — a financial group that also contributed to the Apple Card — so that users have access to installment payments without interest or additional fees in the United States. For now, the company has not confirmed that the service will be available in other regions.
Although installments are common for Europeians, this payment method is new to several countries and gained popularity during the Covid-19 pandemic.
The expectation is that, after more than eight months, the feature will finally be released for users who want to split the payment of online purchases with the update to iOS 16.4. Like most of Apple’s “innovations”, the new function will not arrive without causing a stir among consumers and market regulators.
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