Apple Pay Later: What is it and how can you use it?

Apple Pay Later® is the new Apple service that allows eligible customers to spread the costs of a purchase over 6 weeks. The Apple Pay Later release date was only in Spring 2023, with a gradual roll out. But if you’re already eligible or keen to learn more, this guide is for you.

We’ll cover how to set up Apple Pay Later, and how the service works. We’ll also touch on Wise as a great Apple Pay compatible option for international payments.

What is Apple Pay Later?

You might already be familiar with some of Apple Pay’s services, like options for mobile payments and ways to send money with Apple Pay. But what about Apple Pay Later, the Apple buy now pay later service?

The new Apple Pay buy now pay later service lets you split the cost of a purchase over 4 payments and 6 weeks, with no interest and no fees. You’ll just need to apply in advance to be approved for a loan.

The Apple Pay Later launch date was back in March 2023¹, starting with a roll out to select users. In future all eligible Apple Pay customers can benefit from this service. If the Apple Pay Later option is not showing up yet for you, you’ll have to keep your eyes peeled for more in the Apple app.

Looking for more on Apple Pay? Here are some more handy resources to try:

• Want to learn more about using PayPal and Apple Pay together - get this guide
• Not sure between Apple Pay vs Google Pay? Here’s the Apple Pay vs Google Pay guide you need
• Interested in how Google Pay lines up vs PayPal? Get a Google Pay vs PayPal review here

How does Apple Pay Later work?

Apple Pay Later allows you to split the cost of a purchase equally into 4 installments you pay over 6 weeks. To use the service you must be eligible and you’ll need to apply and be approved in advance for a loan. Then, when you’re checking out using Apple Pay you’ll simply need to select the pay later option. Apple then pays the merchant in full, and you pay Apple back over 4 installments.

Apple Pay Later can be used for purchases from 50 USD to 1,000 USD, on iPhones and iPads that can support the service. You’ll also need to be over 18, in an eligible US location, and you may need to verify your identity with your passport or driving license².

How do you apply for Apple Pay Later?

You can apply for Apple Pay in advance in your Apple Wallet, or when you’re shopping online and you see Apple Pay offered by a merchant. Here’s how to apply when checking out with Apple Pay³:

1. Choose Apple Pay at checkout when making a purchase
2. Find and tap the Pay Later tab, then Continue
3. Read through the plan details, then tap Agree & Continue
4. Select or add the debit card that you want to use for your initial payment
5. Double-click the phone’s side button to confirm payment with Face ID, Touch ID or your passcode

Get a Wise account and send money abroad with low fees - works with Apple Pay

Looking for a way to transfer money overseas with Apple Pay? Consider using Wise.

Wise allows you to send money to 80+ countries with low fees starting from 0.41%⁴ and fast or even instant delivery times⁵. Pay using Apple Pay and you can get your money moving in no time. Just set up your transfer, either online or through the Wise app, and get the mid-market exchange rate to convert your USD to the currency you need.

If you need more, you can also open a Wise Account and order a Wise card that can be added to Apple Pay. Then you can make mobile payments in over 50 currencies with the mid-market rate and low fees.

Get a Wise account today:

• Bank details in 10 currencies
• The option to hold, send, spend and convert 50+ currencies at once
• Send money overseas with low and transparent fees,
• Order a Wise card for a one time fee of just $9 - for use in 174 countries
• Mid-market exchange rates on all transactions.

Get a Wise Account today

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Which countries can use Apple Pay Later?

So, is Apple Pay Later available overseas?

At the moment, Apple Pay Later is available in the US only, and may not be available in all states. It’s not offered in US territories, either. If you’re not in the US, you’ll need an alternative - more on Apple Pay Later alternatives later.

Learn more about Apple Pay international - and Apple Pay’s international fees here.

Apple Pay Later vs. Apple Card

Apple Pay Later and the Apple Card are different services. While you can use the Apple card to pay later, as it’s a credit card, you’ll usually need to pay interest, and fees may apply if you’re late to clear your bill. The Apple Pay Later option lets you split the cost of a purchase over 6 weeks with no interest or fees, just so long as you pay the loan installments promptly.

Apple Pay Later alternatives

Not sure Apple Pay Later is right for you? Check out a few alternatives, like:

• PayPal Pay in 4
• Klarna
• Afterpay
• Quadpay
• Affirm

Bottom line

If you’re eligible for the Apple Pay Later service, you could use it as a smart way to spread the costs of a purchase over 6 weeks. However, Apple Pay Later is still being rolled out at the time of writing, so you might not find you’re able to access the service just yet.

Use this guide so you’re good to go once Apple Pay Later reaches you - and don’t forget to check out Wise for an Apple Pay compatible way to spend and send payments overseas.

Learn more about Wise

All sources checked on 15 May 2023