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Apple has a new trick to woo Android customers — Apple Pay Later

The service lets Apple users borrow money and pay it later in installments with zero interest and no fees.

Published onMarch 29, 2023

Apple Pay 3
Joe Hindy / Android Authority
  • Apple has launched the Apple Pay Later program in the US.
  • It allows Apple users to borrow amounts ranging from $50 to $1,000 and pay them back in six weekly installments.
  • The loans can be used for online purchases wherever Apple Pay is accepted and also for in-app purchases.

Apple has debuted Apple Pay Later, a payment plan that allows users to split their purchases into four payments spread over six weeks with zero interest and no fees.

Apple Pay Later is only available for Apple Pay customers, which means Android users don’t have access to it. The scheme can be seen as another ploy by Apple to woo Android customers over to the iOS side of things.

Currently available only in the US, Apple Pay Later allows users to borrow anywhere between $50 to $1,000, which can be used for online and in-app purchases.

Loans can be applied for within the Apple Wallet app. Upon purchase, a user’s Apple Pay Later loan and payment history may be reported to credit bureaus and impact their credit. The company says it’ll do a “soft credit pull” at the time of the loan application to ensure the user has a sound financial position.

Once the loan is approved, users can make purchases using Apple Pay Later with their iPhones or iPads. They can also directly apply for a loan in the checkout flow when making a purchase.

Moreover, Apple users will be able to track their previous and upcoming payments via the Wallet app. Users will also receive notifications via Wallet and an email reminding them of forthcoming payments.

Starting today, randomly selected Apple users will be invited to get early access to a prerelease version of Apple Pay Later via Wallet and through their Apple ID email. The service is available with iOS 16.4 and iPadOS 16.4.

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