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Original poster
Apr 12, 2001
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Apple is teaming up with Canadian payment services company PayBright to launch a buy now, pay later program for Apple products in Canada, reports Bloomberg.

paybright-buy-now-pay-later-canada.jpg

PayBright, which is owned by Affirm, offers payment plans that are designed to break the cost of a purchase down into biweekly or monthly installments. PayBright already works with a number of companies in Canada including WayFair, Sephora, Samsung, eBay, Dyson, and more. "Shop now, and pay over time at your favorite stores," reads the company's website.

Canadian customers will be able to purchase iPhones, Macs, and iPhones, and pay for purchases over the course of 12 to 24 months instead of paying up front. The program will work with device trade-ins that can serve as a down payment, and AppleCare can be included in the installment plan. As a launch bonus, the new installment option will be offered interest-free for a limited time.

Apple and PayBright will debut the payment program online and in retail stores in Canada starting on August 11. Retail employees have already been informed about the initiative, according to a note sent to staff that was seen by Bloomberg. Some customers visiting Apple want to buy now and pay later. Now, they have a new option that lets them pay over time for their favorite Apple products," reads the letter.

Apple already offers installment payment plans for device purchases made with the Apple Card in the United States, but a similar program has not been available in Canada.

Last month, Bloomberg reported that Apple is working on an "Apple Pay Later" feature that will allow customers to make Apple Pay purchases with monthly installments, a program that will be separate from the new buy now, pay later initiative launching in Canada.

Apple will partner with Goldman Sachs for the Apple Pay Later feature, and installment payment options will be available for all Apple Pay purchases and will not be limited to Apple products.

Article Link: Apple to Launch 'Buy Now, Pay Later' Program in Canada Through PayBright Partnership
 

Mrjetsondc

macrumors regular
Dec 17, 2020
202
694
Hmm 🤔 guess people not being able to pay rent has hurt Apple, so let’s over high interest financing and payment plans for a 1000 dollar device that does the same thing as a 200 dollar Android.

Apple is a disappointment
 

sw1tcher

macrumors 68020
Jan 6, 2004
2,454
4,837
Also known as: "Spend the money that You don't possess."

Buy now declare bankruptcy later...
Those aren't the only customers who use BNPL services.

For example, if I was planning to buy a 256GB iPhone 12 Pro Max for my wife and I, that's C$1689 x 2. I can easily afford the C$3378, but why pay the full C$3378 upfront when it'd be financially smarter to use their Pay-in-4 payment option or make monthly interest free payments and then invest the rest?
 

Rogifan

macrumors Core
Nov 14, 2011
22,792
28,878
Hmm 🤔 guess people not being able to pay rent has hurt Apple, so let’s over high interest financing and payment plans for a 1000 dollar device that does the same thing as a 200 dollar Android.

Apple is a disappointment
I’m paying for my new iPad Pro over time using my Apple Card. No interest involved. Same with the iPhone upgrade program. Why not pay something off over time with what’s essentially a no interest loan?
 

Mrjetsondc

macrumors regular
Dec 17, 2020
202
694
I’m paying for my new iPad Pro over time using my Apple Card. No interest involved. Same with the iPhone upgrade program. Why not pay something off over time with what’s essentially a no interest loan?
a credit card I’d not the same as these loans. These buy now pay later schemes do not check your credit and will sell you anything. You having an Apple Card at least shows that you are responsible in some ways.

People going into debt is how a lot of companies make their living
 

coachgq

macrumors 6502
Jun 16, 2009
468
808
Those aren't the only customers who use BNPL services.

For example, if I was planning to buy a 256GB iPhone 12 Pro Max for my wife and I, that's C$1689 x 2. I can easily afford the C$3378, but why pay the full C$3378 upfront when it'd be financially smarter to use their Pay-in-4 payment option or make monthly interest free payments and then invest the rest?
Point taken, but do you really “invest the rest”?
 

sw1tcher

macrumors 68020
Jan 6, 2004
2,454
4,837
a credit card I’d not the same as these loans. These buy now pay later schemes do not check your credit and will sell you anything.
🤦‍♂️ They do check your credit. And they check for each and every retailer. It's in their FAQ/Help section.


Does PayBright check my credit?

It depends! We do an instant credit check with a bureau (such as Equifax or TransUnion) if you are paying in Equal Monthly Payments or if you are using a PayBright Virtual Card.

We don't do a hard credit check when you prequalify or when you Pay in 4 with our bi-weekly payment plan!

Tip: If you are applying for a Pay Monthly plan through multiple retailers, each application will be subject to a hard credit check.
 
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