Later this fall, Apple Pay Later will let customers in the United States pay for online and in-app purchases through a six-week installment plan with no interest or fees.
Previewed at WWDC, Apple Pay Later will let customers split a purchase into four equal payments paid over the course of six weeks. Apple Pay Later will include zero interest and no fees and will be available "everywhere Apple Pay is accepted," according to Apple.
Inside the Wallet app, users will see a new overview of all of their upcoming payments and how much they owe and can set a personal budget. Apple says that Apple Pay Later will only be available to qualifying applicants, but no further details have been shared.
Wednesday December 11, 2024 5:23 am PST by Joe Rossignol
Apple has announced that iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2 will be released today following more than six weeks of beta testing.
For the iPhone 15 Pro and iPhone 16 models, the update introduces additional Apple Intelligence features, including Genmoji for creating custom emoji, Image Playground and Image Wand for generating images, and ChatGPT integration for Siri. There is also ...
Thursday December 12, 2024 4:36 am PST by Tim Hardwick
Next year's iPhone 17 Pro models will reportedly feature a major redesign, specifically centering around changes to the rear camera module, and now new supply chain information appears to confirm the striking change, according to a Chinese leaker.
iPhone 17 Pro concept render
Late last month, The Information's Wayne Ma claimed that the rear of the iPhone 17 Pro and iPhone 17 Pro...
Developers now have access to cloud-based M4 and M4 Pro Mac mini units via MacWeb, a Silicon Valley-based provider of cloud services.
The company has launched three configurations of the new Mac mini, powered by Apple's M4 and M4 Pro chips. Developers and IT teams can rent these machines for tasks ranging from basic development to advanced artificial intelligence modeling, providing an...
Wednesday December 11, 2024 10:02 am PST by Juli Clover
Apple today released macOS Sequoia 15.2, the second update to the macOS Sequoia operating system that was released in September. macOS Sequoia 15.2 comes over a month after the release of macOS Sequoia 15.1.
Mac users can download the macOS Sequoia update through the Software Update section of System Settings.
macOS Sequoia 15.2 adds Image Playground, an app that lets you create...
Wednesday December 11, 2024 10:54 am PST by Juli Clover
Apple today made a mistake with its macOS Sequoia 15.2 update, releasing the software for two Macs that have yet to be launched. There is a software file for "Mac16,12" and "Mac16,13," which are upcoming MacBook Air models.
The leaked software references the "MacBook Air (13-inch, M4, 2025)" and the "MacBook Air (15-inch, M4, 2025)," confirming that new M4 MacBook Air models are in...
Wednesday December 11, 2024 10:03 am PST by Juli Clover
Apple today released iOS 18.2 and iPadOS 18.2, the second major updates to the iOS 18 and iPadOS 18 updates that came out in September. The new updates come over a month after Apple released iOS 18.1 and iPadOS 18.1.
Subscribe to the MacRumors YouTube channel for more videos.
The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General >...
Monday December 9, 2024 10:06 am PST by Juli Clover
Apple today seeded the second release candidate versions of upcoming iOS 18.2, iPadOS 18.2, and macOS 15.2 updates to developers and public beta testers for testing purposes, a week after releasing the first RCs. The first iOS 18.2 RC had a build number of 22C150, while the second RC's build number is 22C151. Release candidates represent the final version of beta software that's expected to see a ...
I find the 3 x fortnightly payment thing a bit strange. The use case for this would normally be to spread the cost across salary payments which, in the UK, normally happen monthly. I appreciate this is US only, so perhaps the payment frequency is different in the US?
US workers generally get paid fortnightly, and this is a US-only feature for now. Here in the UK it is common to have a credit card where, if you pay back your debt monthly with direct debit, you end up having ~1.5 month interest-free (I have that with my Amex). PS autocorrect wrote that US workers get laid fortnightly, does Apple know something I don’t?
Well that would be the fiscally responsible thing to do... but so many people lack the discipline to do that.
(those with such discipline, as well as not spending everything they make, typically don't use buy-now-pay-later financing...)
Paying cash when you can get an interest-free loan is not smart, financially speaking.
I can afford to buy anything that Apple currently sells in online store, but given the choice between paying all upfront, or paying over time, I would choose paying over time, every time, and I do.
Now, if there was a discount for cash, that would be a totally different story.
For more info about Buy Now, Pay Later (BNPL), CNBC ('https://www.cnbc.com/2022/05/13/buy-now-pay-later-is-not-a-boom-its-a-bubble-harvard-fellow-says-.html') has some good articles. Search for "BNPL"- this is still a new 'product' in the US, "without much regulatory oversight, the BNPL market currently exists in “a legal gray space,” according to Lux."
The merchants / stores are able to ring up higher purchase totals; the banks loaning out the money are making their money through late fees, etc.
Good point...I was thinking about the money they make if the customer pays on time...the banks stand to make even more money on late fees, etc if the customer pays late. They only lose in a complete default which is probably relatively rare given the short terms and relatively low amounts of the funding.
Bleagh, now that it's clear what this product really is, it feels pretty unsavory for Apple to be getting involved with it.
