Photo: Apple

What does the Apple Pay Later service allow?

Apple Pay Later, built into the Apple Wallet in IOS 16, allows users in the US to split the cost of an Apple Pay purchase into four equal payments spread over six weeks, with no interest and fees. Apple Pay Later is available everywhere Apple Pay is accepted – online or in-app. The service, which will work over the MasterCard network, puts Apple in direct competition with payment providers like Affirm and PayPal. IOS 16 will be available this fall as a free software update for iPhone 8 and later.