Apple plans to launch a new form of payment

Apple plans to launch a new form of payment

Apple is planning to launch a new system that works with Apple Pay. Keep reading and discover in this article how it will work. Read on for more information!

Apple is planning to launch a new system that works with Apple Pay. Keep reading and discover in this article how it will work. Read on for more information!

Smart phone giant Apple Inc. is working with finance company Goldman Sachs on an interest-free installment payment service through Apple Pay.

According to what was reported by Bloomberg, the project in question would be launched under the name Apple Pay Later, with the idea that it will rival fintech platforms such as PayPal or WePay based on the investment with loans granted by Goldman Sachs.

Smart phone giant Apple Inc. is working with finance company Goldman Sachs

Goldman, a global company in investment banking and with profits during the first half of 2021 of almost $10,000 million, has been a credit partner of the Apple Card credit card since 2019. However, the new service will not require any of these Apple cards, Bloomberg explained.

In this way, users can use any credit card linked to Apple Pay when making their payments. In turn, the service can be used both in physical stores and online.

Users can use any credit card linked to Apple Pay

According to the media, the idea behind the installment payment service is that more and more people adopt the habit of paying with their iPhone, since Apple receives a percentage of the transactions made through Apple Pay.

Users who want to use the Apple Pay Later service must be approved through a request that must be sent through the iPhone Wallet application, where they can also manage their payments.

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