Here's How Apple's ‘Buy Now, Pay Later’ Service Will Work

The video discusses Apple's new Apple Pay Later service, which offers two payment options: interest-free installments and monthly installments with interest. It compares Apple Pay Later to competitors like Affirm and PayPal, highlighting the seamless integration with existing Apple Pay services. The video also explores Apple's market strategy, potential antitrust issues, and the growth of Apple Pay as a significant revenue stream. Future developments include a feature for small businesses to receive payments via Apple Pay.

What are the two options available under the Apple Pay Later service?

• Apple Pay in five and Apple Pay bi-annual installments

• Apple Pay in two and Apple Pay yearly installments

• Apple Pay in four and Apple Pay monthly installments

• Apple Pay in three and Apple Pay quarterly installments

How does Apple Pay Later differ from competitors like Affirm and PayPal?

• It offers a better interest rate

• It requires no additional credit check

• It provides cashback on every purchase

• It has a longer repayment period

What is a potential concern for users with the introduction of Apple Pay Later?

• Complex application process

• Increased spending due to easy payment options

• Higher interest rates compared to competitors

• Limited availability of the service

How has Apple Pay contributed to Apple's revenue?

• It generates a few billion dollars annually

• It only generates revenue from Apple Card users

• It contributes to a $100 billion services pie

• It has not significantly impacted revenue

What new feature is Apple planning to introduce for small businesses?

• A loyalty program for frequent users

• A new Apple Card with no fees

• A feature to receive payments via Apple Pay

• A discount system for bulk purchases