14 DAY TRIAL // Apple announced Pay Later with much fanfare not a long time ago, and the new feature, which allows customers to pay in installments for the stuff they purchase using Apple Pay, was originally projected to land this year.
But as it turns out, the Cupertino-based tech giant is no longer planning to ship this feature in 2022, as the company is allegedly hitting development roadblocks that delay the launch to 2023.
This is what Bloomberg’s Mark Gurman says, with the release of Pay Later now expected to take place at some point next year.
Most likely, Gurman says, Pay Later will be included in iOS 16.4, which is projected to go live at some point in the spring of the next year. Whether or not this happens, however, is something that remains to be seen, especially as Apple has so far remained tight-lipped on the ETA of Apple Pay Later.
Gurman, however, claims the company is struggling with “fairly significant technical and engineering challenging.”
“Apple Pay Later provides users in the US with a seamless and secure way to split the cost of an Apple Pay purchase into four equal payments spread over six weeks, with zero interest and no fees of any kind,” Apple said back in June at WWDC when it announced Pay Later.
“Built into Apple Wallet and designed with users’ financial health in mind, Apple Pay Later makes it easy to view, track, and repay Apple Pay Later payments within Wallet. Users can apply for Apple Pay Later when they are checking out with Apple Pay, or in Wallet. Apple Pay Later is available everywhere Apple Pay is accepted online or in-app, using the Mastercard network. Additionally, with Apple Pay Order Tracking, users can receive detailed receipts and order tracking information in Wallet for Apple Pay purchases with participating merchants.”