Apple’s Pay Later Service to Offer Flexible Payment Options for In-Store and Online Purchases, According to Bloomberg Report
Apple Pay Later is a new service introduced by Apple that allows users to split purchases into four payments over six weeks with no interest or fees. Users can apply for loans of $50 to $1,000, which can be used for online and in-app purchases made on iPhones and iPad with merchants that accept Apple Pay.
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Users can easily track, manage and repay their loans in one convenient place in Apple Wallet. Buy Now, Pay Later: The Bloomberg Apple Pay Letter Service Report is expected to read the full article.
To begin with, users can apply for a loan in their wallet without any impact on their credit. After a user is approved, they will see the Pay Later option when they checkout online and select Apple Pay in apps on iPhone and iPad and can use Apple Pay Later to make purchases.
Apple Pay Later is built right into the wallet, so users can seamlessly view, track and manage all their debts in one place. With Apple Pay Later Wallet, users can easily view the total amount owed on all their existing loans, as well as the total amount due in the next 30 days.
What is Bloomberg Apple Pay Later Service?
Apple Pay is a quick and easy mobile payment method that lets you pay for things without using a physical credit or debit card. Instead, you can pay using an Apple device such as an iPhone, iPad, or Apple Watch.
How does work Bloomberg Apple Pay Later Service?
To use Apple Pay, you need to add your debit or credit card details to the Apple Wallet app on your device. When you want to pay, you can choose which card to use and hold your device near the card reader. Then, enter your phone passcode or use Touch ID to confirm the payment.
Is it safe to Bloomberg Apple Pay Later Service?
Yes, Apple Pay is secure. When you add your card details, the information is replaced by a randomly generated string of numbers and letters called a token. If someone gets access to it, they won’t be able to get the original payment details. Plus, if you lose your device, you can suspend any payments using Find My iPhone.
How can you adopt Bloomberg Apple Pay later in your business?
If you use a card machine from TakePayment, you can start accepting Apple Pay with no additional set-up or cost. All card machines are contactless and enabled with Android Pay as standard.