Apple Pay Later disrupts buy now, pay later market.

Apple has launched a soft version of its buy now, pay later (BNPL) service, Apple Pay Later, which allows users to split the cost of purchases into four interest-free payments over six weeks. The service will be available to all eligible users in the coming months. Apple Pay Later loans of $50 to $1,000 can be used for online and in-app purchases made on iPhone or iPad with merchants that accept Apple Pay. The service has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions.