Apple Pay Later enters expanded beta testing, can launch soon; Know what it is

Apple Pay Later, the new financial service by the iPhone maker, is now being tested by Apple retail employees in the US. It is likely to launch soon. Find out what it is.

| Updated on: Feb 08 2023, 18:01 IST
Apple WWDC 2022: Top 10 iOS 16 features coming to your iPhones
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1/10 Customizable lock screen for iPhones: Apple has substantially upgraded the iOS lock screens with features such as ability to create and edit custom lock screens, add filters, change font styles. This is the biggest lock screen update on iPhones since the launch of iOS itself. (Apple)
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2/10 Wallpaper Gallery: Apple has introduced lock screen gallery in iOS 16. It will have a plethora of wallpapers that users can choose from. Various apps like weather will also provide a live wallpaper feature. (Apple)
iOS 16
3/10 Widgets: Apple has also refreshed widgets and you can now enable them on your lock screen itself. From Music, Weather, to Smart Stack, you will now be able to bring all your important apps’ widgets to your lock screens. Now, you can even create custom lock screens and match them to your Focus modes. (Apple)
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4/10 Messages: The Messages app has also received a major update with some long-requested features. You can now unsend messages and even have the option to edit already sent messages! Isn’t that amazing? Oh, and SharePlay now works in Messages too. (Apple)
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5/10 Maps: Apple Maps has been updated to support visual look-around. Apple has introduced the multi-stop functionality to Maps as well as seamless integration with Apple Wallet. (Apple)
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6/10 LiveText: LiveText: One of the most popular Apple features, LiveText also has been improved. You can now use LiveText in videos as well as other apps. (Apple)
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7/10 Dictation: Dictation on Apple has just got smarter thanks to machine learning. You can now select a text and use dictation to edit it, or type an entire paragraph with your voice. The keyboard stays open to seamlessly shift between voice and touch. It even includes emoji detection and punctuation detection! (Apple)
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8/10 Notifications: iOS Notifications has also received some much-needed updates. Notifications will now be categorized from the bottom, keeping the lock screen cluster-free. (Apple)
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9/10 Visual Lookup: Visual Lookup has been improved. You can now tap and hold an object for Visual Lookup as well as send that object to someone as a message. (Apple)
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10/10 Mail: The Mail app has been updated. It now has several excellent features such as un-send mails, follow up, remind me later, and more. (Apple)
Apple Pay
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Know all about Apple Pay Later and find out how it works. (REUTERS)

Buzz around Apple Pay Later first began last year after it was announced in the Worldwide Developers Conference (WWDC) 2022. It was a ‘buy now, pay later' model service which would allow users to split their bills in equal parts and pay it over a period of time. But the feature did not make it to the public last year and many have been wondering about its launch. Reports are now suggesting that this new financial service by Apple can soon be launched after the beta testing phase was expanded to all the Apple retail employees in the US.

According to a report by Bloomberg's Apple tipster Mark Gurman, Apple made a beta version of the service available to its company's more than 80,000 retail employees in the US as an expanded testing of the product. It is now believed that a public release will be the next step and it can come within the next few weeks. Earlier, Tim Cook had also said that Apple Pay Later will be “launching soon”. The feature will be integrated with Apple's Wallet app on the iPhone and iPad.

What is Apple Pay Later

As mentioned above, Apple Pay Later is a financial service available within Apple Wallet which is based on the ‘buy now, pay later' model. For the unaware, this model essentially grants short term loans (between 15 to 90 days) without any interest rate as long as the user pays back in the stipulated time.

Apple Pay Later will allow all its customers in the United States to split their purchases in four equal payments over a period of six weeks. It would not levy any fees or interest for using the service. The feature will be available in any place where Apple Pay is accepted online or in-app using the Mastercard network. It should also be noted that the feature, for now, will only be available in the US. Apple has not revealed whether it will be coming to India anytime soon.

According to the Bloomberg report, Apple is working on another financial product which is called Apple Pay Monthly Installments. It will be used for larger purchases and will allow users to split the bill into monthly installments over a longer period of time. Details of this service are not yet known.

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First Published Date: 08 Feb, 17:49 IST
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