Apple Pay Later Now Available for All Qualifying US Residents

Apple has reportedly launched Apple Pay Later for all qualifying U.S. residents.

Available on an invite-only basis since March, the buy now, pay later (BNPL) feature is now accessible in the Wallet app on the iPhone, MacRumors reported Tuesday (Oct. 24).

Apple did not immediately reply to PYMNTS’ request for comment.

With Apple Pay Later, eligible customers can split a purchase made with Apple Pay into four equal payments over a span of six weeks, with no interest or fees, according to the report. This feature is applicable for purchases between $75 and $1,000 made on an iPhone or iPad on most websites and apps that accept Apple Pay.

During the early access period, the minimum purchase amount required to use Apple Pay Later was $50, but Apple has raised it to $75, the report said. Every purchase made using Apple Pay Later is considered a separate loan and requires a new application, but it does not impact the user’s credit score.

To be eligible for Apple Pay Later, users must be U.S. residents 18 or older, per the report. However, the feature is currently unavailable in Hawaii, New Mexico, Wisconsin and the U.S. territories.

Apple Pay Later is integrated into the Wallet app on the iPhone and can be accessed through the Settings app under Wallet & Apple Pay on the iPad, according to the report. Users have the ability to view, track and manage their loans, with upcoming payments displayed on a calendar. Payment reminders are sent via Wallet notifications and email.

In order to repay the loan, users must set up a debit card as the repayment method, the report said.

Apple announced in June 2022 that it would launch Apple Pay Later. With that announcement, the firm, like other tech giants striving to cement their own eCommerce ecosystems, joined the BNPL crowd, PYMNTS reported at the time.

The firm began the rollout of the installment payments program in March, releasing Apple Pay Later to select, invited users at the time and saying it would expand it to all eligible users in the coming months.

“Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later,” Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said when announcing the beginning of the rollout of the product.