Apple today announced a major update to Apple Pay called Apple Pay Later, which will allow users to split the cost of an Apple Pay purchase into four equal payments without any interest or late fees. The new financial product — which was rumored ahead of its debut at Apple’s 2022 Worldwide Developers Conference — marks Apple’s move into the enormous and growing buy now, pay later industry.
Apple Pay Later is available everywhere Apple Pay is available, both in apps and on the web — it requires no integration from the developer or merchant side. Upcoming payments are managed through Apple Wallet.
Accompanying the launch of Apple Pay Later is Apple Pay Order Tracking, which enables merchants to deliver receipt and order tracking to Wallet. It’s integrated with with Shopify, according to Apple, and — like Apply Pay Later — requires no additional integration.
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