Apple rolls out buy now, pay later service, with guardrails
By CORA LEWIS
Associated Press
NEW YORK (AP) — Apple is getting into the buy now, pay later space with a few tweaks to the existing model, including no option to pay with a credit card. The company will roll out the product to some consumers this spring, and will begin reporting the loans to credit bureaus in the fall. Since the start of the pandemic, the option to “buy now, pay later” has skyrocketed in popularity, especially among young and low-income consumers who may not have ready access to traditional credit.
