Apple’s chief executive Tim Cook told CNBC before today’s earnings call for the first fiscal quarter of 2023 that Apple’s Apple Pay Later service, which is in the works, will launch “soon.
Cook said Apple employees are testing the Apple Pay Later feature, which will help Apple boost revenue from the service. “It will launch soon,” Cook said.
Apple first announced Apple Pay Later at its Worldwide Developers Conference last June, which offers a “buy now, pay later” feature that allows U.S. iPhone and Mac users to split payments into four installments over a six-week period without paying No additional interest or fees. The service will be available at any Apple Pay-enabled store, both online and offline, and will work through the MasterCard network. When users shop with Apple Pay, they will have the option to split the fee and the purchase page will detail the amount and due date of the individual payment.