Apple Introduces Split Payment Service in the USA

This is a long-awaited launch that risks overshadowing split payment specialists such as the Swedish Klarna or the American Affirm. While the “Buy Now Pay Later” sees its economic model shaken up by the rise in interest rates, the giant Apple launched its own service on Tuesday for some of its hand-picked customers in the United States.

Apple Pay Later, which was announced last June, is integrated into the “Wallet” function of the iPhone and iPad and allows Apple Pay users to split a purchase of 50 to 1,000 dollars into four equal payments over six weeks, with no interest or late fees.