Apple Pay Later is a new feature for that allows you to pay for items over time in four payments without interest. It’s Apple’s version of a buy-now, pay-later (BNPL) service, which is integrated into and included with iOS 16. Services that allow you to buy now and pay later have become increasingly popular. You’ve definitely come across names like Affirm or Klarna when purchasing online, and Block (previously Square) made a major splash by acquiring Afterpay.
In a news release, Apple stated, “Users may apply for Apple Pay Later when checking out with or in Wallet.” Later is available everywhere is accepted online or in apps that use the Mastercard network,” says Apple. Apple Pay Later is one of several new features for iOS 16 that were announced at WWDC, including order tracking, editable messages, and a redesigned lock screen.