Apple is teaming up with popular “Buy Now, Pay Later” Affirm service to expand financing options for iPhone, iPad and Mac buyers in Canada. According to a new report from Bloomberg, Apple will launch this program in Canada this month at online and physical retail stores.
In the United States, Apple buyers can finance their purchases with the Apple Card, but this is not available anywhere outside of the United States. Thanks to this Affirm partnership, Apple will however be able to offer financing over 12 or 24 months for new iPhone, iPad, and Mac purchases.
The companies plan to launch the initiative this month at Apple’s online and physical retail stores in Canada, according to a message sent to Apple retail employees in the region, which was obtained by Bloomberg News. The service will allow buyers of iPhones, Macs and iPads in Canada to pay for their purchases over 12 or 24 months instead of paying in full at the time of transaction. Apple told staff it will offer the program interest-free for a limited time after launch.
The note to employees stated that the program will launch on August 11:
“Some customers who visit Apple want to buy now and pay later,” Apple told staff in Canada. “Now they have a new option that allows them to pay over time for their favorite Apple products.” The company also told staff that the program will roll out on August 11. Apple and Affirmer spokespersons declined to comment.
Buyers in Canada will be able to apply a trade-in credit to their monthly payments and also add AppleCare coverage. While almost all Apple products can be funded using the Apple Card in the US, only iPhone, iPad, and Mac will be supported by this Affirm partnership in Canada.
The report adds that the program will be powered by PayBright, which is a Canadian “buy now, pay later” service that was acquired by Affirm last year for more than $ 260 million.
This is another example of Apple’s growing interest and involvement in the “buy now, pay later” industry. Apple is also planning an “Apple Pay Later” service.
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