Cook said that Apple Pay Later is now being beta tested among Apple employees and that the general public will soon be able to use it in an interview with CNBC. The CEO of Apple did not provide a precise date, although iOS 16.4 and other software updates are anticipated in the spring.
Apple Pay Later was postponed, according to Mark Gurman, due to “major technical and engineering problems in rolling out the service.” It was also stated by the writer that “it’s probable that the feature won’t be available until iOS 16.4 in the spring.”
Due to its 0% interest and cost structure, Apple Pay Later will be an attractive option for US users. Apple explains this service as follows:
Users in the US now have access to Apple Pay Later, a simple and safe way to divide the amount of an Apple Pay transaction into four equal payments spread over six weeks with no fees or interest.
Apple Pay Later, which is integrated with Apple Wallet and was created with consumers’ financial security in mind, making it simple to monitor, track, and remit Apple Pay Later payments inside of Wallet. Users can apply for Apple Pay Later in Wallet or when paying with Apple Pay.