Apple Pay Later appears to have officially finally launched for all qualifying U.S. residents

Apple Pay Later appears to have officially finally launched for all qualifying U.S. residents
Apple Pay Later

Good morning fellow FinTech Fanatic!

Apple Pay Later appears to have officially finally launched for all qualifying U.S. residents. The feature had been available on an invite-only "early access" basis since March.

Apple removed the following sentence from all Apple Pay Later support documents today:

"Apple Pay Later is currently only available to customers invited to access a prerelease version."

Apple Pay Later is a "buy now, pay later" feature that lets qualifying customers split a purchase made with Apple Pay into four equal payments over six weeks, with no interest or fees. 

The feature is available for eligible purchases between $75 and $1,000 made on an iPhone or iPad on most websites and apps that accept Apple Pay.

The minimum purchase amount required to use Apple Pay Later was $50 during the early access period, but Apple has now raised it to $75.

Every purchase made using Apple Pay Later is a separate loan and requires a new application, which has no impact on your credit score, according to Apple. 

The feature is available to U.S. residents who are 18 years of age or older. Apple Pay Later is currently unavailable in Hawaii, New Mexico, Wisconsin, and the U.S. territories.

Read more Industry updates below, and have a great day in FinTech!




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