Apple Inc. entered finance with Apple Pay and three years ago launched credit cards with Goldman Sachs Group Inc. Now it’s all going in.
The tech giant is launching a buy now, pay later offer in the US later this year that will allow consumers to split purchases with Apple Pay into four payments every two weeks. Apple will underwrite and fund the loans, which also means it absorbs losses when borrowers fail to repay. A subsidiary of Apple has obtained lending licenses in most states to offer new payment plans, Called Apple Pay Later,