Apple is reportedly working on a pay later feature for Apple Pay – ClearTips

If you’ve made an online purchase in the past, there’s a good chance you’ll run into services like Affirm and PayPal’s Pay in 4. They allow you to buy something and later pay for it by dividing the total cost. Items in multiple installments.

From the look of things, Apple may soon offer a similar option for Apple Pay users. According to , the company is working with Goldman Sachs on a service called “Apple Pay Later” that would allow people with their devices to make purchases over time, including those they shop at physical stores.

When using the service, the outlet states that you’ll have two ways to pay for your purchases. If you choose the “Apple Pay in 4” option, you will have to make four interest-free payments in two months.

Another option is to extend the repayment period by several months, although in that case the interest comes in handy. bloomberg says it was not able to determine how much interest Apple plans to charge or when the company will launch the service.

We’ve reached out to Apple for comment on the report, and we’ll update this article when we hear back from the company. But in many ways, Apple Pay later seems like a logical extension of what the company is already doing with Apple Card, where installment plans are offered for Mac and iPad purchases.

editor’s Note: This post originally appeared on Engadget.

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