Apple employees are testing the company’s new buy now, pay later interest-free Apple Pay Later service ahead of its launch in the US “soon,” according to Apple CEO Tim Cook who told CNBC on Thursday that the service’s official launch is nearing.
Announced last year, Apple Pay Later will work similarly to other buy now, pay later services such as PayPal that let users spread the cost of purchases over a set period.
With Apple Pay Later, users will be able to pay in installments for in-store, online and in-app purchases, with all installment payments available to view in the Wallet app on iOS, allowing users to see their upcoming payments and remaining payment period.
Launching in the US, Apple CEO Tim Cook has said “It will be launching soon,” although no specific launch date or further information was shared.
