With Apple pushing into the lending business with a “buy now, pay later” service, the company is laying out rules for how it will approve transactions and one key factor is whether you’ve been a good customer in the past, according to Bloomberg.
The Apple Pay Later service will also look at whether customers have applied for an Apple Card credit card. Itwas announced at the 2022 Worldwide Developer Conference in June. When it arrives, it will provide users in the US with a way to split the cost of an Apple Pay purchase into four equal payments spread over six weeks, with zero interest and no fees.
Users will be able to track, and repay Apple Pay Later payments within Wallet. Users will purportedly be able to apply for Apple Pay Later when they’re checking out with Apple Pay, or in Wallet. Additionally, with Apple Pay Order Tracking, users will be able to receive detailed receipts and order tracking information in Wallet for Apple Pay purchases with participating merchants.
Article provided with permission from AppleWorld.Today