Apple is betting on payment in installments

Apple is betting on payment in installments

Apple has announced that in the United States it will begin selling its products under the buy now, pay later formula. The announcement came on Monday 6 June, during the first day of Apple Developer's annual conference, the event during which the industry giant announces its new products and the news that we can expect in the following months.

Apple news at Wwdc 2022: from the new Macbook Air and Pro with M2 to iOs 16 Official all the updates of the apple operating systems, as well as the renewed laptops with proprietary chip Through the new Apple Pay Later formula, in the United States iPhone and Mac users will be able to pay for their products in four equal installments spread over six weeks, or one payment every two weeks, without this entailing interest or additional costs. The system will rely on the Mastercard network, and will be implemented directly in the Apple Pay application, installed by default on all Apple devices. The function will start together with the launch of the new iOS 16 operating system, expected in the second half of 2022.

Apple's move comes a few months after the acquisition of Credit Kudos, a fintech startup that operates as a reference credit in the field of open banking, testifying to the multinational's desire to modernize the financial dimension of its activities, as well as to make its products potentially more accessible to more consumers.

iOs 16, five novelties hidden in the new iPhone update A collection of less publicized features, but which can be very useful Usually, the buy now, pay later formula tends to attract the attention of the authorities, which they want to make sure that short-term credit is offered responsibly, especially at a time of inflation like this, and that consumers fully understand the type of debt they are facing when they accept this formula. In fact, Apple was keen to point out that the formula was designed with "the financial health of consumers in mind". In fact, everything can be managed through the Apple Wallet application, whose dashboard will be made even more intuitive in order to better follow the transactions in progress.