Apple is set to take on the likes of Afterpay with a new BNPL product that will let consumers pay for any Apple Pay purchase in instalments over time.
Apple is working on a new service that will let consumers pay for any Apple Pay purchase in instalments over time, rivalling the “buy now, pay later” offerings popularised by services from Affirm and PayPal.
The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs as the lender for the loans needed for the installment offerings, according to people with knowledge of the matter.The buy now, pay later system could help drive Apple Pay adoption and convince more users to use their iPhone to pay for items instead of standard credit cards.
When making purchases through an Apple Pay Later plan, users will be able to choose any credit card to make their payments over time. The service is planned to be available for purchases made at either retail or online stores. Apple already offers monthly instalments via the Apple Card for purchases of its own products, but this service would expand that technology to any Apple Pay transaction.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19 hits CEO pay as boards rein in bonusesA record share of executives missed out on bonuses last year but the highest paid CEO was Paul Perreault, the chief of biotech giant CSL, who took home $43 million.
Read more »
CBD economy faces years on the road to recovery“People don’t want to go into the city because they’re concerned about using public transport... many small businesses may go out of business if they haven’t already” CBD melbournecbd melbournecity smallbusiness
Read more »
Cash for Sydney businesses after NSW weighed up its own JobKeeperCash for Sydney businesses after NSW weighed up its own JobKeeper | AlexSmithSMH CroweDM LucyCormack
Read more »
Woman, 91, bashed in own home during terrifying daylight robberyPolice say an elderly woman is being treated for facial injuries after a man entered her unit and attacked her in Tweed Heads South yesterday.
Read more »
Perth mother-of-four makes a fortune selling second-hand goods onlineA Perth mother-of-four says she&x27;s earned a cool $100,000 buying and selling goods on Gumtree and thinks others could be cashing in too.
Read more »
Perth mother-of-four makes a fortune selling second-hand goods onlineA Perth mother-of-four says she&x27;s earned a cool $100,000 buying and selling goods on Gumtree and thinks others could be cashing in too.
Read more »