Apple's New Pay Later Service: Everything You Need to Know.

Apple Pay Later is a new payment installment plan program that allows users to split up payments for a purchase into four equal installments. Unlike many of its BNPL competitors, Apple is not allowing consumers to make their Apple Pay Later payments with a credit card. The company evidently sees that as a form of paying off debt by going into more debt, which is never a great idea. Apple Pay Later has plans to eventually report consumers’ payments to credit bureaus.