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Apple Goes Deeper Into Finance With Buy Now, Pay Later Offering

Apple Inc. tiptoed into finance with Apple Pay and the bank card it launched three years in the past with Goldman Sachs Group Inc. Now it’s going all in.

The tech large is launching a purchase now, pay later providing within the U.S. later this yr that may permit shoppers that store with Apple Pay to separate purchases into 4 funds each two weeks. Apple will underwrite the loans and fund them, which additionally means absorbing losses when debtors fail to repay. An Apple subsidiary has obtained lending licenses in most states to supply the brand new cost plans, called Apple Pay Later.