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What is Apple Pay Later? The new Apple Wallet feature explained

June 6 marked the beginning of WWDC for Apple, and the company kicked off its annual developer conference with a keynote showcasing all the new updates coming to your iPhone with iOS 16. 

One of the most interesting new features for Apple Wallet is Apple Pay Later. But what is Apple Pay Later, how does it work and are there any fees?

Scroll down to learn everything you need to know about Apple Pay Later.

What is Apple Pay Later? 

Apple Pay Later is a buy now, pay later service offered to Apple Pay users that lives in the Apple Wallet. 

Pay Later gives users the option to take any regular Apple Pay purchase and split it into four equal payments that can be paid off over the course of six weeks. The service is interest-free and users won’t be forced to pay any fees to use the service. 

When you make a purchase in Pay Later, you’ll be able to view each payment and due date in your Apple Wallet – though you do have the option to pay earlier if you’d prefer. 

There’s even a tracker built directly into Wallet, which allows users to see when their parcels are set to arrive. 

Right now, it appears as though Apple Pay Later will be available in the US. Apple hasn’t revealed which other countries and regions will support the iOS 16 feature, but we will update this guide when we know.

WWDC wasn’t actually the first we’d heard of Apple Pay Later. Apple was first reported to be working on the Wallet feature last July, almost a year ago. 

At the time, Bloomberg reported that Apple was working with Goldman Sachs on the feature, which would allow Apple Pay users to pay for purchases in four payments spaced two weeks apart with no interest, or buy items in instalments over the course of a number of months, but with interest applied. 

Thankfully, it seems Apple has opted not to add any interest or charge a fee for the service at launch. We’ll have to wait to see whether this changes in the future. 

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