Apple will be introducing a credit feature on Apple Pay in the US, allowing you to buy now and pay later with the Apple Pay in partnership with Goldman Sachs.
Even if you haven’t purchased the Apple Pay card this new feature may be available to all Apple Pay customers in the US.
On many online stores today, you can pay with Klarna or PayPal credit feature both of which allow you to pay for your product in monthly instalments.
This new apple service is likely to operate in a similar way becoming a direct competitor to the existing monthly payment options.
The big difference for Apple Pay is that it is not just online but in almost every store a customer may wish to travel to.
With this new Apple Pay feature no credit check will be required, and you will pay in instalments for every purchase made with no interest.
however, if you pay late or miss a payment it is likely you will incur high fees so Apple is able to continue offering this to other customers.
Therefore, you could be in debt to both your network for your contract but also apple for purchases you have made using Apple Pay.