Apple Inc. is soon to launch its highly anticipated “Apple Pay Later” service, according to CEO Tim Cook. The feature was first teased at the Worldwide Developers Conference (WWDC) in June and has generated a lot of excitement among Apple fans.
In an interview with CNBC ahead of the company’s earnings call for the first fiscal quarter of 2023, Cook confirmed that the “Apple Pay Later” service is close to being rolled out to the public. He stated that Apple employees are currently beta testing the feature and that this process is going well. Cook emphasized that “Apple Pay Later” will play a significant role in boosting the company’s services revenue, which is a key part of Apple’s business strategy.
“Apple Pay Later” is similar to the “buy now, pay later” feature offered by PayPal, and it is designed to provide customers with more flexibility when making purchases. The service will allow users to split their purchases into multiple payments, with up to four payments spread over a period of six weeks. The payments will be managed through the Wallet app, which is already a popular tool for managing Apple Pay transactions.
The “Apple Pay Later” option will be available wherever “Apple Pay” is accepted, giving customers a seamless and convenient way to make purchases. This feature will be especially useful for customers who are looking to make a big-ticket purchase but don’t have the funds available at the moment. By using “Apple Pay Later”, they can spread the payments over a longer period and make the purchase without any financial strain.
