Now, the iPhone's long-awaited Apple Pay functionality is available

Photo Credit: MacRumors Last year, when Apple unveiled iOS 16 at WWDC 2022, it launched Apple Pay Later. As of right now, "randomly selected consumers" are starting to receive the capability via a beta version of Apple Pay Later in the Wallet app. You'll need iOS 16.4 and iPadOS 16.4 to access this prerelease version, which should have been sent to your Apple ID account. This is a beta version of Apple Pay Later; the full service will be made available to eligible iPhone users in the United States who are older than 18 in the "coming months." Photo Credit: Retail News From Asia With the new Apple Pay Later financing option, eligible consumers in the US can divide the cost of an Apple Pay purchase into four equal payments over the period of six weeks. These payments do not include any additional fees or interest. Loan amounts with Apple Pay Later can range from $50 to $1,000. While using Apple Pay on your iPhone or iPad, you can utilize Apple Pay Later once it has been approved to make online and in-app purchases. If someone is eligible for Apple Pay Later, they can apply for the loans immediately from the Wallet app without it having any impact on their credit. Simply enter the desired amount to borrow, accept the terms of Apple Pay Later, and a mild credit check will be started. Once accepted, the option to use Apple Pay Later is available when using Apple Pay. Also Read: Tim Cook finally confirms that Apple Pay Later will “launch soon,” and employees are currently testing it Similar to Apple Card, Apple Pay Later is immediately incorporated into the Wallet app. Users of Apple Pay Later may therefore access, manage, and track all of their loans from a single location. To ensure that you don't forget a payment, the Wallet app also allows you to view forthcoming transactions on a calendar and can notify you of them by email or the Wallet app. For the loan repayment option, credit cards are not permitted; thus, debit cards must be attached. Photo Credit: Apple All credit evaluations and loans for Apple Pay Later are handled by Apple Finance LLC, a division of Apple. Since the service itself makes use of the Mastercard Installments program, businesses who already accept Apple Pay do not need to take any further steps for it to function. Make sure to read the official Apple support document supplied by the company for further details about Apple Pay Later.