Apple Launch Apple Pay Later Will Allow to Split Purchases Into 4 Interest-Free Payments

Apple have launched its “buy now, pay later” service in the US country, the move that threatens to disrupt the fintech sector dominated by firms like Affirm and Klarna companies. Apple Pay Later, will allow users to split purchases into four payments with no interest or fees.

Users can get loans between $50 and $1,000 for online and in-app purchases made on Apple devices with merchants that accept Apple Pay according to the company rules.

Apple Pay Later will absolutely many of the other players. Other companies would’ve taken a look at Apple’s announcement because they are unique name. This will take a bite out of the market share of other players, said Danni Hewson, head of financial analysis.