Since COVID-19, it’s become even more of a second nature to make contactless payments. Swiping your card or your phone over the card reader has become second nature. And as frequent as online shopping sessions with mobile payment services, like Apple Pay. Considering that, the rumor is Apple is thinking of adding a Pay Later feature to their Apple Pay service.
Apple is said to soon allow users of their Apple Pay service to make a purchase and pay in installments over a longer period of time. According to Bloomberg, Apple is looking into this feature with Goldman Sachs.
The feature would be, of course, called Apple Pay Later and would allow users to pay in installments for online purchases as well as those done at physical shops.
The feature, we understand, is going to enable users to make four interest-free payments across a couple of months (Apple Pay in 4). If users need a bit more time to take care of the payment, then they could extend the term but with interest.
This wouldn’t be a first for Apple. The company is already allowing Apple Card owners to create installment plans when they opt to buy a Mac or an iPads.