The tech giant is getting into the Buy Now Pay Later sector with its latest offering

 
Apple has launched its buy now, pay later service in the United States.

Apple Pay Later, will allow users to split purchases into four payments spread over six weeks, with no interest or fees.

Users can apply for loans between $50-1,000, which can be used for online and in-app purchases made on an iPhone and iPad, with merchants that accept Apple Pay.

Apple Pay is currently accepted by over 85 per cent of U.S. retailers.

The sector’s fortunes have turned around amid rising interest rates and increasing inflation, as consumers tighten their wallets.

Apple Pay Later is enabled through the Mastercard Installments program.