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The Ability to Make Payments Through Apple Pay Later Is Still Being Rolled Out to iPhone Users

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According to the observations of tech enthusiast Will Sigmon, a pre-release version of Apple Pay Later is currently being sent to users of randomly picked iPhones. Built into the Wallet app, the “buy now, pay later” feature gives eligible customers the ability to split the cost of an Apple Pay purchase into four equal payments that can be made over the course of six weeks without being charged interest or additional fees.

The Ability to Make Payments Through Apple Pay Later Is Still Being Rolled Out to iPhone Users_

If an iPhone user is selected, they will receive a notification to the email address associated with their Apple ID, as well as a banner in the Wallet app of their device that reads “Early Access” for Apple Pay Later. There is no way to compel someone to extend an invitation to you. However, to test Apple Pay Later, users must be residents of the United States, at least 18 years old, and running iOS 16.4 or a later version on their iPhones.

Late in March, early access to Apple Pay Later was made available. Apple has stated that it intends to make the capability available to all eligible users “in the coming months.”

Apple claims that users of the iPhone can use the Wallet app to request a loan ranging from $50 to $1,000 without affecting their credit score. A preliminary credit check will be performed on the customer after they have entered the amount they want to borrow and agreed to the terms of Apple Pay Later. When using Apple Pay, an approved user will have access to Apple Pay Later once the approval process is complete.

Users can monitor, track, and manage their loans within the Wallet app, which displays forthcoming payments on a calendar and sends payment reminders via the Wallet app and email. As a form of debt payback, users are required to associate a debit card with credit cards that are not approved.

Pay with Apple Apple Financing LLC, an Apple subsidiary, conducts later credit assessments and manages loans. Because the service is modeled after the Mastercard Installments program, retailers who already accept Apple Pay do not need to take additional steps to make it available to their customers. Apple has released many support documents, each of which contains extra information.

Apple has yet to comment on whether the capability will roll out in other countries or when it will do so.

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