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News

Apple to develop BNPL option directly from its Apple Pay app

Wednesday 14 July 2021 14:13 CET | News

Apple has partnered with Goldman Sachs to turn every Apple Pay transaction into a potential Buy Now, Pay Later opportunity, according to Bloomberg, cited by theverge.com.
The Apple service is said to be a direct competitor of Klarna, Affirm or PayPal’s Pay In 4, with the important distinction that this will be embedded into Apple devices that many people are already using in physical stores as well.

Users will pay in four interest-free instalments over two weeks if they pick “Apple Pay in 4” or pay interest over several months if you pick ‘Apple Pay Monthly Installments,’ writes Bloomberg. It adds that there’s no credit check required, and some plans won’t have late fees. The publication doesn’t say when Apple might launch the service or how much interest it might charge.

More: Link


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Keywords: product launch, Apple, Apple Pay, BNPL
Categories: Payments & Commerce
Companies:
Countries: World
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