Apple launching 'Pay Later' service

Photo by: Apple
Photo by: Apple

(Cupertino, CA) -- Apple is introducing its Pay Later service which allows users to split their purchases into four payments spread over the course of six weeks.

Apple Pay Later users will be able to manage, track and repay their loans in their Apple Wallet.

Loans of between 50 and one thousand dollars can be used for in-app and online purchases made through merchants that accept Apple Pay.