Apple Launches Buy Now, Pay Later Service

Apple Launches Buy Now, Pay Later Service

Apple Launches Buy-Now, Pay-Later Service
Apple Launches Buy-Now, Pay-Later Service
Retail Bum

Retail Bum

Retail Bum

Retail Bum

Apple has entered the buy now, pay later (BNPL) space with its own Apple Pay Later service, which is expected to be rolled out as part of its upcoming iOS 16 update.

The tech giant revealed that the offering would be built and managed directly in the Apple Pay wallet, and it would allow users to pay for purchases in four installments over six weeks.

Apple Launches Buy Now, Pay Later Service Called Apple Pay Later

The service will prompt users to split the cost when making purchases using Apple Pay. If users decide to opt-in for a payment plan, a detailed page will be displayed indicating the amount and due date for each installment payment.

Just like Apple’s digital credit card, the company’s BNPL service will be powered by Mastercard. It will also be made available for both in-app and online purchases in the U.S.

For merchants, the offering requires no extra lift to accept the service. In addition, Apple has also launched Apple Pay Order Tracking, a service that enables merchants to deliver receipts and order tracking to the Wallet. The offering is integrated with Shopify and requires no additional integration.

The move to enter the BNPL category follows Apple’s efforts to expand its business in the payments space. Last year, the company was in talks with Goldman Sachs as the lender for the loans to enable the service.

MUST READS
Supreme and True Religion Team Up for Fall 2022 Collection

Supreme and True Religion Team Up for Fall 2022 Collection

Building off the major hype from a surprise Fall 2021 collaboration, True Religion and Supreme are back at it again for a Fall 2022 collection. True Religion was founded in 2002 by Jeff Lubell and Kym Gold and quickly gained recognition for its five-needle thread,

Marks & Spencer Acquires Fashion Marketplace Thread

Marks & Spencer Acquires Fashion Marketplace Thread

Marks & Spencer has acquired the intellectual property, including the source code and algorithms, of personalized fashion marketplace, Thread, the company announced on Wednesday. The acquisition is part of the company’s effort to improve its own personalization capabilities and deliver an improved omnichannel experience to

Black Friday Sales Break Record

Black Friday Sales Break Record As Consumers Hunt For Deals

Consumers spent a record-breaking $9.12 billion online on Black Friday sales this year, Adobe’s data shows. The sales marked a 2.3% year-over-year increment, with demand for electronic products driving sales, followed by toys and exercise equipment. The solid Black Friday performance came a day after

No more posts to show, explore other topics: