Apple unveiled a frenzy of new software features and revisions of its multiple operating systems at WWDC 2022. Aside from that, at the developer conference, the business unveiled the new MacBook models. That's not all: Apple also revealed a pay-later option, allowing it to enter the financial sector.
over four payments. The buy now, pay later option will have zero interest rates and no late fees, according to the announcement. Apple Pay Later can be used anywhere Apple Pay is accepted, including in-app purchases and internet shopping.
Later on, Apple Pay The Apple Pay Later payment option will be integrated into the digital wallet, allowing users to pay for any Apple Pay purchase in four payments. The buy now, pay later option will have no interest rates or late fees, according to the announcement. Apple Pay Later works anywhere Apple Pay is accepted, including in-app purchases and internet buying.
Furthermore, this payment option includes an instalment plan that is entirely compatible with existing point-of-sale terminals. Retailers will eventually be able to use the Apple Pay Later service without having to change their point-of-sale equipment. Furthermore, the Apple Wallet software installed on the device can be used to track and manage Apple Pay Later. The Apple Credit Card was the company's first foray into the buy-now, pay-later market before Apple Pay Later. It allowed consumers to pay in monthly instalments with no interest. However, it only applied to a subset of products, not all of them. It was also exclusively available at a few Apple Store locations.
It goes without saying that Apple Pay Later will compete with industry titans like Klarna and Affirm. Furthermore, the company stated that it intends to deploy the service to assist consumers who wish to totally replace their physical wallet. The company is working on launching state-approved digital drivers licences, among other things, in preparation for a widespread release. After receiving authorization, we may expect the Apple Pay Later service to be rolled out in India. This payment mechanism may also encourage more people to upgrade to Apple products.
