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Apple developing ‘Apple Pay Later’ service to pay for products over time…without Apple Card

Jul 13, 2021

Apple developing ‘Apple Pay Later’ service to pay for products over time…without Apple Card

The rumor: Apple is working on a new service called “Apple Pay Later” that allows you to pay for nay Apple Pay purchase over time, according to Mark Gurman (89.1% accurate, via Bloomberg).


  • “The service is currently planned to work as follows: When a user makes a purchase via Apple Pay on their Apple device, they will have the option to pay for it either across four interest-free payments made every two weeks, or across several months with interest, one of the people said. The plan with four payments is called ‘Apple Pay in 4’ internally, while the longer-term payment plans are dubbed ‘Apple Pay Monthly Installments.'”
  • The interest rates for payments across several months aren’t currently known
  • No release date has been set for the upcoming feature just yet

Our take: This is a pretty big move…the ability to pay later for any purchase made with Apple Pay. Even more surprising is that this is separate from Apple Card, and will be more broadly available to Apple Pay users. With no interest for two months on most purchases, there’s almost no reason not to pay for your stuff over time.