All US customers may now access Apple Pay Later, a purchase now, pay later option, extensively. The program, which debuted in early access in March, lets customers make a purchase and pay for it over the course of six weeks in four equal payments without incurring interest or late penalties.
Although the goal of this product is to provide customers more financial flexibility, there are some worries over consumer debt. The service is made possible by the Mastercard Installments program, of which Goldman Sachs is the issuer of the Mastercard payment credential, even if Apple is in charge of the loan component. According to some sources, Goldman Sachs may be trying to cut ways with Apple over credit cards and savings accounts.