Apple introduces ‘Apple Pay Later’ feature that allows users to pay for purchases over time!

With the cost of living soaring due to inflation, more Americans than ever are trying to find ways to save a few extra pennies, and Apple has come to the rescue. After announcing a bunch of new features in iOS 16, Apple also unveiled Apple Pay Later, which is a version of the company’s ever-popular “Buy Now, Pay Later” option.

For Apple users who have been looking forward to the day they can have the option spread payments to make a purchase, the time has finally come. @Verge reports, the tech giant recently confirmed the launch of Apple Pay Later, which lets you pay for purchases in four installments with no interest charged and can be accessed from your Apple Pay account your existing. Purchases can be paid for within six weeks, with the first prepayment and remaining payments due every two weeks.

Through a press release announcing various new features in iOS 16, Pay Later details “Users can sign up for Pay Later when they pay with Apple Pay or in Wallet. Apple Pay Later is available anywhere Apple Pay is accepted online or in apps, using the Mastercard network. “

In the last few years, services that allow you to buy products and pay within a specific timeframe have grown in popularity, as companies like Afterpay, Klarna, Zip, Affirm, and PayPal in 4, have collected attracts millions of customers yearning for the luxury of not paying for everything at once. Apple no doubt realized there was a huge market for the service, and now the company has its own.

iOS 16 will be released in September, and after that users can enjoy new features, including a new Pay Later feature, editable text messages, and an improved lock screen.

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