![]() Frequently Asked Questions Does Stripe support Apple Pay Later? When a merchant accepts Apple Pay, Apple Pay Later will be an option for their eligible customers during checkout online and in apps on iPhone and iPad. More information on the MasterCard Installments program can be found here. Just make sure you are approaching it responsibly since our top rule in points and miles is to always pay your bills in full and on time.Apple Pay Later (1), a buy now, pay later service, allows users to split purchases into four payments, spread over six weeks with no interest and no fees (2), while merchants are paid upfront.Īpple Pay Later is enabled through the Mastercard Installments (MCI) program, so eligible merchants that accept Apple Pay do not need to do anything to implement Apple Pay Later for their customers. Also, know that not all of these services function the same and you may end up trading away credit card points or protections in some cases.Īpple Pay Later might be a handy feature to make payments over time. However, you should always make sure to use these features responsibly and not accrue debt simply because you can pay it off over time or because the payments lack the weighty interest assessed on a credit card. Its main selling point is making equal payments over time without interest. The ability to buy now and pay later is becoming increasingly popular. The credit assessment, decision and lending are managed through a wholly-owned subsidiary of Apple called Apple Financing LLC, which maintains the appropriate state lending licenses. Apple leverages the MasterCard installments program as the payment technology to process each Apple Pay Later purchase. Merchants who already accept Apple Pay won’t need to do anything differently to accept Apple Pay Later. You want to ensure you don’t leave valuable points and miles on the table when choosing your payment method. ![]() You should also understand how “buy now, pay later” options can lead to missing out on valuable credit card rewards. Understanding how Apple Pay Later works is just one side of the equation. Note that the eligibility check requires a soft credit pull, but it won’t affect your credit score (or count toward Chase’s 5/24 rule), like signing up for a new credit card would. When signing up for a new Apple Pay Later transaction, you’ll be able to see all your upcoming payments (from other loans) that are due within 30 days. ![]() It also integrates into your Calendar app.Īuto-pay is the default setting, but you can turn off this feature if you can’t make your payment on time. The Wallet app helps you manage your scheduled payments and outstanding balances. ![]() The card details on this page have not been reviewed or provided by the card issuer. The information for the Apple Card has been collected independently by The Points Guy. While you can add most credit cards to your iPhone wallet, you’ll need to link a debit card as your repayment method when setting up a loan with Apple Pay Later. You can make the remaining payments early if you wish.Īpple Pay (as well as Apple Pay Later) isn’t limited to paying with Apple Cash or your Apple Card. The first payment with Apple Pay Later is due at the time of purchase, and then the remaining three payments are paid every two weeks - a total of six weeks from the purchase date. There are no fees or interest with Apple Pay Later. The Points Guy will not share or sell your email. I would like to subscribe to The Points Guy newsletters and special email promotions. ![]()
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