Apple Pay Later launched with the random invite system
The latest financial service provided by Apple got launched today dubbed Apple Pay Later.
The new feature does exactly what it says; lucky users in the US can use the service to split their bills into four payments with no interest or no fee.
Alike Pay Later services such as Kirana or any other services, lucky users can access the facility within the Apple Pay wallet.
Apple Pay Later services are now accessible to those who get invited to access the pre-released version.
Lucky users must note that Apple Pay Later can be accessed from iPhone or iPad running iOS 16.4 and iPadOS 16.4 only.
Users with access to the prerelease can use the Apple Pay Later service for online and in-store purchases made from merchants accepting Apple Pay.
Apple advertises that Apple Pay Later is "designed with users' financial health in mind" at least the brand is claiming this.
Bills are easily trackable and manageable in Apple Wallet, while the bills can easily be split over six weeks.
Once an invite is received, then the user can apply for an Apple Pay Later loan of $50 to $1000 and can easily access Pay Later when checking out via Apple Pay.
A mass release of the Apple Pay Later service without the need to invite access is going to arrive in the coming months.
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