Apple Pay Later debuts in the US with invite-only access.

Apple has launched its pay-over-time system, Apple Pay Later, in a "prerelease" version for US customers, which requires an invitation. The feature allows users to split their online Apple Pay purchases into as many as four payments spread over six weeks, with no fees or interest payments. The loans are limited to $1,000, and users must link a debit card. Apple Pay Later is part of the Wallet app in iOS 16.4 and iPadOS 16.4 and includes a calendar to help track payments. The feature should reach every eligible user in the "coming months," and Apple will report Pay Later loans to American credit bureaus starting in the fall.