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Apple has made a beta version of its upcoming installment payment feature, Apple Pay Later, available to its more than 80,000 retail employees in the U.S. for testing.
This comes after the feature had already been tested with Apple’s corporate employees. Upon making a purchase with Apple Pay, users will be able to pay for it across either four interest-free payments every two weeks, or longer-term payments with interest. This payment plan will be integrated into the Wallet app on the iPhone and iPad, and users can use any credit card to pay.
To enable the installment payment feature, Apple has set up a subsidiary, Apple Financing LLC, to facilitate lending without involving other partners.
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Last week, Apple CEO Tim Cook mentioned that the feature will be launching soon, and rumors indicate it will be part of iOS 16.4, which is expected to be available in its first beta sometime next week.