Apple introduces Apple Pay Later to allow consumers to pay for purchases over time

Apple Pay users can split purchases into four payments with zero interest and no fees

Apple® today introduced Apple Pay® Later in the U.S. Designed with users' financial health in mind, Apple Pay Later 1 allows users to split purchases into four payments, spread over six weeks with no interest and no fees. 2 Users can easily track, manage, and repay their Apple Pay Later loans in one convenient location in Apple Wallet®. Users can apply for Apple Pay Later loans of $50 to $1,000, which can be used for online and in-app purchases made on iPhone® and iPad® with merchants that accept Apple Pay. 3 Starting today, Apple will begin inviting select users to access a prerelease version of Apple Pay Later, with plans to offer it to all eligible users in the coming months.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230328005475/en/

Designed with users' financial health in mind, Apple Pay Later allows users to split purchases into four payments, spread over six weeks with no interest and no fees. (Photo: Business Wire)

Designed with users' financial health in mind, Apple Pay Later allows users to split purchases into four payments, spread over six weeks with no interest and no fees. (Photo: Business Wire)

"There's no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we're excited to provide our users with Apple Pay Later," said Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet. "Apple Pay Later was designed with our users' financial health in mind, so it has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions."

Apply for, Track, and Manage Loans Seamlessly in Wallet

To get started with Apple Pay Later, users can apply for a loan within Wallet with no impact to their credit. 4 They will then be prompted to enter the amount they would like to borrow and agree to the Apple Pay Later terms. A soft credit pull will be done during the application process to help ensure the user is in a good financial position before taking on the loan.

After a user is approved, they will see the Pay Later option when they select Apple Pay at checkout online and in apps on iPhone and iPad, and can use Apple Pay Later to make a purchase. Once Apple Pay Later is set up, users can also apply for a loan directly in the checkout flow when making a purchase.

Apple Pay Later is built right into Wallet, so users can seamlessly view, track, and manage all of their loans in one place. With Apple Pay Later in Wallet, users can easily see the total amount due for all of their existing loans, as well as the total amount due in the next 30 days. They can also choose to see all upcoming payments on a calendar view in Wallet to help them track and plan their payments. Before a payment is due, users will also receive notifications via Wallet and email so they can plan accordingly. Users will be asked to link a debit card from Wallet as their loan repayment method; to help prevent users from taking on more debt to pay back loans, credit cards will not be accepted.

Apple Pay Later was designed with privacy and security at its core. Purchases using Apple Pay Later are authenticated using Face ID®, Touch ID®, or passcode, and users' transaction and loan history are never shared or sold to third parties for marketing or advertising.

Apple Pay Later is offered by Apple Financing LLC, a subsidiary of Apple Inc., which is responsible for credit assessment and lending. Apple Financing plans to report Apple Pay Later loans to U.S. credit bureaus starting this fall, 5 so they are reflected in users' overall financial profiles and can help promote responsible lending for both the lender and the borrower.

Mastercard and Goldman Sachs

Apple Pay Later is enabled through the Mastercard Installments program, so merchants that accept Apple Pay do not need to do anything to implement Apple Pay Later for their customers. When a merchant accepts Apple Pay, Apple Pay Later will be an option for their customers during checkout online and in apps on iPhone and iPad. Goldman Sachs is the issuer of the Mastercard payment credential used to complete Apple Pay Later purchases.

Availability

Starting today, randomly selected users will be invited to get early access to a prerelease version of Apple Pay Later via Wallet and through their Apple ID email. Apple Pay Later is available in the U.S. for online and in-app purchases on iPhone and iPad. Apple Pay Later is available with iOS 16.4 and iPadOS 16.4.

  1. Apple Pay Later is subject to eligibility and approval. Apple Pay Later is available only in the U.S. It may not be available in all states. It is not available in U.S. territories. Loans are made by Apple Financing LLC, NMLS #2154940. For California residents, loans are made or arranged pursuant to a California Financing Law license. To use Apple Pay Later, a user must have an iPhone or iPad updated to the latest version of iOS or iPadOS. For more eligibility details, see support.apple.com/en-us/HT212967 .
  2. A user's bank may charge them fees if their debit card account contains insufficient funds to make loan repayments.
  3. Some merchants may not be eligible to offer Apple Pay Later.
  4. Upon purchase, a user's Apple Pay Later loan and payment history may be reported to credit bureaus and impact their credit.
  5. Apple Financing LLC may report past, current, or future Apple Pay Later loans.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or email Apple's Media Helpline at media.help@apple.com .

© 2023 Apple Inc. All rights reserved. Apple, Apple Pay, Apple Wallet, iPhone, iPad, Face ID, and Touch ID are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Heather Norton  
Apple
heather_norton@apple.com

Kimberly Mai  
Apple
k_mai@apple.com

Alyssa Hayes  
Apple
ag_hayes@apple.com

News Provided by Business Wire via QuoteMedia

AAPL
The Conversation (0)
Apple debuts iPhone 16 Pro and iPhone 16 Pro Max

Apple debuts iPhone 16 Pro and iPhone 16 Pro Max

Powered by the A18 Pro chip and built for Apple Intelligence, the Pro lineup introduces larger display sizes, Camera Control, innovative pro camera features, and a huge leap in battery life

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Apple announces Chief Financial Officer transition

Apple announces Chief Financial Officer transition

Apple® today announced that Chief Financial Officer Luca Maestri will transition from his role on January 1, 2025. Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook. As part of a planned succession, Kevan Parekh, Apple's Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team.

"Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company's financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We're fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company," said Tim Cook, Apple's CEO.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Apple reports third quarter results

Apple reports third quarter results

June quarter records for Revenue and EPS

Services revenue reaches new all-time high

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Apple scores record 72 Emmy Award nominations and sweeps across top categories including Outstanding Limited series for "Lessons in Chemistry," Outstanding Drama for "The Morning Show" and "Slow Horses" and Outstanding Comedy for "Palm Royale"

Apple scores record 72 Emmy Award nominations and sweeps across top categories including Outstanding Limited series for "Lessons in Chemistry," Outstanding Drama for "The Morning Show" and "Slow Horses" and Outstanding Comedy for "Palm Royale"

With best-ever Emmy showing, Apple TV+ lands nominations across 16 Apple Originals including "Lessons in Chemistry," "The Morning Show," "Slow Horses," "Palm Royale," "Loot," "Hijack," "STEVE! (martin) a documentary in 2 pieces," "Girls State," "The Reluctant Traveler With Eugene Levy," "Masters of the Air," "Silo," "Physical," "Hannah Waddingham: Home for Christmas," "The New Look," "Sugar" and more

"The Morning Show" lands first-ever nomination for Best Drama and leads with the most performance nominations for a drama series, including Best Actress in a Drama for stars and executive producers Jennifer Aniston and Reese Witherspoon

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Apple The Exchange TRX to welcome its first customers this Saturday, June 22, in Kuala Lumpur

Apple The Exchange TRX to welcome its first customers this Saturday, June 22, in Kuala Lumpur

Apple's first retail location in Malaysia will offer its full lineup of products and services, unparalleled support from over 160 team members, and sessions with local creatives

Apple® today previewed Apple The Exchange TRX, the first Apple Store® in Malaysia. Located in the heart of Kuala Lumpur's new Tun Razak Exchange (TRX) central business district, the new store will deliver the magic of Apple in the country like never before. Customers can discover and buy Apple's innovative lineup of products and services, receive exceptional service from knowledgeable team members, and learn how to get the most out of their devices through free Today at Apple® sessions.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
cell phone lying on table with app icons floating above it

How to Invest in Mobile Apps (Updated 2024)

The ubiquity of mobile devices and their prominence in everyday life has led to the development of mobile apps for everything from gaming and dating to banking and stock trading.

Mobile apps began rising to prominence in 2007 with the launch of the iPhone, which heralded a new era in connectivity brought about by revolutionary touch technology. The field has grown widely from thereon out, and the diversity of today’s offerings makes investing in mobile apps an appealing prospect.

With about 2.87 million apps in Google’s (NASDAQ: GOOGL) Google Play Store and around 1.96 million apps available in Apple’s (NASDAQ:AAPL) App Store, there is no shortage of app choices for mobile devices.

Keep reading...Show less
Icons for various apps floating above a smartphone.

Social Media Stocks: 5 Biggest Companies

The world’s largest social media platforms have revolutionized the way people connect on the internet, and the companies behind these platforms can offer major investment opportunities.

This year's strong rally in technology stocks, led by Meta Platforms (NASDAQ:FB), is a clear example of the huge presence social media companies have in the stock market. In late April, shares of the social media giant jumped 14.6 percent on higher-than-expected earnings. The news came alongside increasing investor confidence in the broader tech industry.

“Meta earnings show the company’s commitment to cost discipline while driving accelerating N-T revenue growth and also continuing to invest in longer-term transformational technologies like artificial intelligence (AI) and the metaverse,” said Doug Anmuth, an analyst at JPMorgan Chase (NYSE:JPM).

Keep reading...Show less
BlackBerry Extends Partnership with Leading Managed Security Services Provider  to Ensure SMBs are Set Up for Cyber Success

BlackBerry Extends Partnership with Leading Managed Security Services Provider to Ensure SMBs are Set Up for Cyber Success

BlackBerry Limited (NYSE: BB; TSX: BB) and Solutions Granted today announced an extended partnership, naming the leading cybersecurity services provider a Master Managed Security Services Provider (MSSP), enabling it to better scale and meet the growing demand for cybersecurity services among small and medium-sized businesses (SMBs).

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

"Solutions Granted has been honored as BlackBerry MSSP Partner of the Year for North America for five consecutive years and we're excited to take our partnership to the next level by crowning them as our top Master MSSP," said Adam Enterkin , Chief Revenue Officer, Americas, BlackBerry Cybersecurity. "BlackBerry is dedicated to increasing its focus on MSSP partners to ensure they're set up for success. Endpoints are proliferating, and so are the cyberattacks against them. Our extended partnership with Solutions Granted will help hundreds of small and mid-size businesses continuously adapt to an ever-changing threat landscape."

As a 'Master MSSP', Solutions Granted will be better positioned to help its own partners to deliver Managed Detection and Response (MDR) and other Managed Security Services to their mid-market and SMB clients.  In partnership with BlackBerry and heavily leveraging the Cylance® AI-powered portfolio, Solutions Granted helps thousands of clients secure their environments and prevent attacks. By working with Solutions Granted, MSSPs and managed service providers (MSPs) can offer industry leading managed security, without making the significant investment of building out their own security operations center (SOC).

CylanceENDPOINT™ is among the solutions it helps managed service providers (MSPs) deploy to clients, either as individual managed services or integrated into a SOC-as-a-service offering.

"BlackBerry's support for our business model provides the flexibility we need to continue to meet customer demand and provide the best possible product support for their business needs," said Michael E. Crean , Chief Executive Officer, Solutions Granted. "We value the investment BlackBerry is making in our partnership and know this will go a long way in setting up our customers for success."

To learn more about BlackBerry MSSP Partners, visit blackberry.com/us/en/partners/mssp-partners .

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world.  The company secures more than 500M endpoints including over 215M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BlackBerry and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved.  All other trademarks are the property of their respective owners.  BlackBerry is not responsible for any third-party products or services.

About Solutions Granted Inc.

Solutions Granted is a Master Managed Security Services Provider (Master MSSP). They offer cybersecurity solutions to North American MSPs and MSSPs and are committed to delivering solutions without requiring minimums, commitments, or long-term contracts. They proudly offer many security layers as well as a 24x7 U.S.-based Security Operations Center (SOC). Over the past several years, Solutions Granted has emerged as a clear leader in the channel, by winning countless awards including the CRN Security 100 list, Top 100 MSSP List, Top Global MSSP List, and BlackBerry MSSP Partner of the Year. Learn more at https://www.SolutionsGranted.com

Media Contacts:

BlackBerry Media Relations

+1 (519) 597-7273

mediarelations@BlackBerry.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-extends-partnership-with-leading-managed-security-services-provider-mssp-to-ensure-smbs-are-set-up-for-cyber-success-301803800.html

SOURCE BlackBerry Limited

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

Geopolitical unrest positions key industries as targets for state-sponsored actors and financially motivated attacks

BlackBerry Limited (NYSE: BB; TSX: BB) today released its latest Quarterly Global Threat Intelligence Report highlighting an increase in cyberattacks directed at financial institutions, food retailers and healthcare providers, with 60 percent of all attacks targeting these three key industries.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
person using credit card to pay for something on their phone

Mobile Investing in Australia

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

Keep reading...Show less
DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Inc. (TSXV: DGTL) (OTCQB: DGTHF) (WKN: A2QB0L) (FSE: D0G) ("DGTL Holdings") and Engagement Labs Inc. (TSXV: EL) ("Engagement Labs") are pleased to announce that DGTL has completed its previously announced acquisition of Engagement Labs by way of a plan of arrangement (the "Arrangement").

Transaction Details

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×