Apple has introduced Apple Pay Later, its buy now, pay later (BNPL) option. The program, which is exclusive to iPhones and iPads, allows consumers to delay payment of a product’s full price. A restricted set of customers will receive invitations for early access to the service, which operates within Apple Wallet.

While other BNPL providers like Afterpay and Klarna have grown in prominence in recent years, Apple Pay Later’s connection with the Apple Wallet gives it a distinct advantage. This provides Apple users with a more simplified and smooth payment experience.

Unfortunately, not everyone will have immediate access to the program. Apple will only extend early access to Apple Pay Later to randomly chosen users who get invitations. It is unknown how quickly the service will be made available to a larger public.

The introduction of Apple Pay Later illustrates the increasing popularity of the BNPL business model and the significance of digital payment choices. As more consumers seek flexible payment choices, BNPL services will probably continue to gain traction in the coming years.

In essence, the introduction of Apple Pay Later provides a new alternative for buy now, pay later services and emphasizes the significance of digital payment options in the contemporary economy. Although the service is currently restricted to a small set of customers, it is anticipated to become a major participant in the BNPL market shortly.