Apple Pay, Apple Card, Apple Cash, and more. Apple has clearly slithered into the fintech scene and it is on the lookout for a bigger fish. Because the company just introduced Apple Pay Later in the US.
What we know so far
Just like Buy Now, Pay Later (BNPL), Apple Pay Later allows you to buy whatever you want and then pay in instalments for up to six weeks without any interest or extra fees.
Apple Pay Later also offers loans!! Not a large sum as banks or other financial institutions, but certainly enough to meet your needs. So far, they offer loans of $50 to $1,000 that can be used for in-app purchases or mobile.
And you don’t have to worry about forgetting to pay back the loans, Apple has got you covered with Apple Wallet!
Over the past few years, Apple has expanded its empire by entering the financial scene. Being a leader in technology, it dived head first into fintech. It started in 2012 when Apple launched its digital wallet app and then two years later it released Apple Pay, its own digital payment system.
Then in 2017, Apple incorporated the Apple Cash feature within its digital wallet. Apple Cash is basically a digital debit card that you can use to send or receive money in your wallet.
Then came the Apple Card, Apple Saving, and now Apple Pay Later. With all of that combined, it looks like Apple is building its own financial ecosystem. Maybe an Apple Crypto is gonna pop up on the market in the future!