Enlarge/ Pay Later was announced during the WWDC keynote on June 8. (credit: Apple)
Apple is making its biggest move into finance by offering loans directly to consumers for its new buy now, pay later product, taking on a role played in its other lending services by banking partners such as Goldman Sachs.
Short-term loans made through the iPhone maker’s new Apple Pay Later service, announced on Monday, will be made through a wholly owned subsidiary, Apple Financing LLC, the company said.
Apple Pay Later will be accepted by the millions of US retailers that already take the iPhone’s mobile and online payments service, giving it a broad reach and an enviable customer base who can already afford to splash out on the company’s latest smartphone.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.