The Apple Pay Later service that Apple has in the works is set to launch “soon,” Apple CEO Tim Cook told CNBC ahead of today’s earnings call for the first fiscal quarter of 2023.
Cook said that Apple employees are beta testing the Apple Pay Later feature, which will help Apple boost services revenue. “It will be launching soon,” Cook said.
Apple Pay Later was first previewed at the Worldwide Developers Conference in June. It is similar to the buy now, pay later feature offered by PayPal, and it is designed to allow users to make multiple payments for their purchases.
With Apple Pay Later, a purchase can be split into four payments that can be made over the course of six weeks, and the option will be available where Apple Pay is accepted. Payments will be managed through the Wallet app.
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