Have you ever thought about having apple how is the lender? Now it will be possible with apple To pay Later. The company launched in the US last Tuesday, the 28th, the new functionality of the payment service introduced in 2018 in Brazil. For now, it’s only available for testing.

The tool will allow users to request loans from $50 (R$256) up to $1,000 (R$5134) directly through the virtual wallet. iPhone. Apple Pay Later will allow these amounts to be paid in up to four interest-free debit payments within six weeks, Mac said. That is, you don’t have to worry about exorbitant general prices if you don’t have the money owed.

To use the service, the user must meet certain requirements, namely: be over 18 years of age, reside in the United States and have iOS 16.4 installed on the device you want to use it with. And, logically, the seller must accept this form of payment. At the moment, there is no release date for the general public yet, but this should be confirmed in the coming months.

Apple wants to expand financial services

The tool is part of Apple’s efforts to expand its financial services and provide more options for customers. And it is worth noting that she is not the first to offer this type of loan. Other market players such as Square are already offering this to their users, apart from regular banks, of course.

Despite this, Apple’s entry into this niche could bring even more competition and innovation. The brand is already one of the most valuable companies in the world, and the expansion is seen as an opportunity to further increase its revenue — a move that has also been made with apps like Apple Music and Apple TV+.

The novelty should be welcomed by Apple Pay users, who will have another option to solve financial problems or unexpected expenses. However, it is important that they use it responsibly and avoid accumulating unnecessary debt as the range of loan options is greater than just a few years ago.

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Source: MacMagazine

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