Apple on Tuesday launched an option in its digital wallet allowing customers to pay for online purchases in installments, making it the latest company to embrace the buy now, pay later trend.

It’s Apple’s take on a buy now, pay later (BNPL) service, built right into Apple Pay and coming with iOS 16. Buy now, pay later services have been on the rise.

But increasingly, they’re sharing the spotlight with Buy Now, Pay Later companies. On Cyber Monday, BNPL purchases hit an all-time high , up 43% from a year ago, according to Adobe Analytics.

Buy-now-pay-later services (BNPL) ... They said the company also capped late-payment fees at 25% of the order value. Customers are offered small spending limits when they first join, ...

Don’t get stung by buy-now- pay-later services: ... That’s according to new research by Consumer Reports, which looked at major companies’ lending, privacy and consumer-protection policies.

The company’s Pay in 4 product allows consumers to pay for purchases in four interest-free installments. Affirm, another popular BNPL service, said it previously “reported some monthly ...

It amounts to this: "frack now and pay later." Skip to main content. Exclusive news, data and analytics for financial market professionals Learn more about Refinitiv. World. Browse World.

The affordability illusion. The exact amount owed to BNPL services is unknown, but between 2019 and 2021, the number of such loans in the US increased by 1,100%, according to the CFPB.