"Apple introduces new buy now, pay later service to compete with Affirm, Afterpay, Klarna, and PayPal"
Apple has launched its own buy now, pay later service called Apple Pay Later, which allows users to split purchases into four interest-free payments paid over six weeks without an additional fee. Users can apply for a loan between $50 and $1,000 and use it for in-app purchases or to buy products online through retailers that accept Apple Pay. The service will be authenticated using Face ID, Touch ID or a passcode. Apple Pay Later joins popular BNPL services such as Affirm, Afterpay, Klarna and PayPal's "Pay in 4" option.