'Apple Pay Later' Now Being Tested by Apple Store Employees Ahead of Launch

[MacRumors]

Apple this week made a beta version of its upcoming "Apple Pay Later" feature available to the company's more than 80,000 retail employees in the U.S. for testing, according to a report today from Bloomberg's Mark Gurman.

Announced at WWDC 2022 last June, Apple Pay Later is a "buy now, pay later" financing option that will let qualifying customers in the U.S. split a purchase made with Apple Pay into four equal payments over six weeks, with no interest or fees to pay. The feature will be built into Apple's Wallet app on the iPhone and iPad.

Apple Pay Later was already in testing with Apple's corporate employees, the report states.

Last week, Apple CEO Tim Cook told CNBC that Apple Pay Later would be launching "soon." Gurman previously claimed that the feature could be made available to the public alongside iOS 16.4, which will likely enter beta testing by next week. Apple's website indicates that Apple Pay Later may not be available in all U.S. states at launch.

In 2019, the Apple Card was similarly made available to Apple's retail employees for testing, around two months before the credit card launched.

The report indicates that Apple has also been developing a separate financing feature called "Apple Pay Monthly Installments" in partnership with Goldman Sachs. This service would allow customers to split up the cost of larger transactions over several months, with interest applied. Apple has yet to publicly announce this feature.

Article Link: 'Apple Pay Later' Now Being Tested by Apple Store Employees Ahead of Launch

 

[phill85]

Apple to your money: 💸💸💸💸💸💸💸

 

[panerista]

"You thought thin bezels and no ports were sexy? Now we're a bank"

 

[vegetassj4]

How about:

Apple a Day Layaway™
Apple a Day™ Payday Loans

 

[newyorksole]

now let’s get a release date for the savings account!

 

[antiprotest]

The test includes having collections go after these employees and that takes time. Thus the delay.

 

[lysingur]

This is clearly an original attempt to copy Amazon & Affirm. Well, at least the UI looks better.

Prediction: No Interest option will be limited to certain products after Apple Pay Later starts to gain popularity.

 

[ghanwani]

This is great to see. When will they be introducing Apple Pay Never?

 

[genovelle]

This is clearly an original attempt to copy Amazon & Affirm. Well, at least the UI looks better.

There are a ton of these programs.

 

[lysingur]

There are a ton of these programs.

Amazon is probably the first place people go to buy Apple products so it really matters which vendor has this kind of program.

Apple Pay Later can entice more people to buy directly from Apple and bypass Amazon, which takes a cut.

 

[hoodafoo]

Why do people buy stuff they cannot afford? And why do companies like apple enable this behavior?

 

[lysingur]

Why do people buy stuff they cannot afford? And why do companies like apple enable this behavior?

I think you already know the answer. Our addiction to instant gratification doesn't help either.

 

[saudor]

Clever tactic. They have seen that folks are willing to pay hundreds-thousands in app purchases for a mobile candy crush clone game but wrinkle their nose in disgust at a one time $60 cost for an "AAA" game.

 

[ratspg]

now let’s get a release date for the savings account!

Check out Marcus by Goldman Sachs.... that's probably what the "Apple Savings Account" will be.

 

[ratspg]

Why do people buy stuff they cannot afford? And why do companies like apple enable this behavior?

Capitalism.

 

[fatTribble]

Seems like a really short payback duration. I’m surprised it’s not at least a few months. Meh, I’ll never use it.

 

[Love-hate 🍏 relationship]

Why do people buy stuff they cannot afford? And why do companies like apple enable this behavior?

They cannot afford it , and yet they « need » it

And when you need something you buy it no matter what

 

[FelixDerKater]

Now you can pay for the iPhone 15 Ultra Pro Max Elite over 72 months...

 

[hoodafoo]

Capitalism.

It's sad. Apple positions itself to be a classy brand but then they stoop down to adopt K-mart tactics

 

[hoodafoo]

They cannot afford it , and yet they « need » it

And when you need something you buy it no matter what

No one NEEDS anything that apple sells

 

[Dan From Canada]

Why do people buy stuff they cannot afford? And why do companies like apple enable this behavior?

This is where electronics are going.
Remember when $400 was a lot for an iPhone? I do.
Now most people need to take out a loan/mortgage for something that will be obsolete in a few years.

 

[lysingur]

This is where electronics are going.
Remember when $400 was a lot for an iPhone? I do.
Now most people need to take out a loan/mortgage for something that will be obsolete in a few years.

Wait till Apple's VR headset comes out. You'll miss how cheap iPhone is.

 

[Cuesca]

How about:

Apple a Day Layaway™
Apple a Day™ Payday Loans

iBreakyourlegs
iKneecap

 

[greenbreadmmm]

So i buy something today and the payment is due end of next month.

Could someone explain how this is different? Do the charges show up every 2 weeks vs paying every 2? so they are due over different billing periods?

 

[ratspg]

It's sad. Apple positions itself to be a classy brand but then they stoop down to adopt K-mart tactics

It is. But it’s all just an image at the end of the day. They want to sell their products and get our money.