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Apple may check your purchase history for Pay Later approvals

Apple will apparently check your purchase history as part of the approvals process for its Pay Later initiative.

It emerged last week that Apple was testing its long awaited buy now, pay later service on retail staff, indicating that a full release for Apple Pay Later was finally right around the corner.

Now more details have emerged concerning the small print on what will be, after all, a form of loan service provided by Apple. According to Bloomberg reporter Mark Gurman, Apple will analyse your purchase history with the company as part of the loan assessment process.

This will include examining purchases made from Apple retail stores, as well as App Store transactions and peer-to-peer Apple Cash payments. The company will check on whether you’ve applied for an Apple Card, and will also factor in your spending habits on any cards linked to your Apple Pay account.

Intriguingly, the report also claims that Apple will take which Apple devices you own into account when deciding on how much money it will let you spend through Pay Later. Will owning an iPhone SE restrict your borrowing potential versus an iPhone 14 Pro Max, we wonder?

Apple Pay Later will enable you to break purchase payments made through Apple Pay down into four interest-free instalments spread over six weeks. It’s claimed that recent Apple Pay Later testers have seen loan approvals for up to $1,000 (around £830).

Apple first announced the Pay Later service way back at WWDC 2022 in June, and clearly intended it to launch later that year with iOS 16. It missed that launch window, however, amidst reports of major technical issues.

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