Apple Launches Apple Pay Later in US, Will Allow Users to Split Purchases Into 4 Interest-Free Payments
Apple on Tuesday launched its "buy now, pay later" (BNPL) service in the US, a move that threatens to disrupt the fintech sector dominated by firms like Affirm Holdings and Swedish payments company Klarna.The service, Apple Pay Later, will allow users to split purchases into four payments spread over six weeks with no interest or fees, the company said. It will initially be offered to select users, with plans of a full roll-out in the coming months.Users can get loans between $50 (roughly Rs. 4,000) and $1,000 (roughly…