Revolutionary Apple Pay Later service lets you shop now and pay later with 0% interest - coming soon!

Apple has announced the launch of "Apple Pay Later," a new payment service that allows users to defer their payments for purchases made using Apple Pay. The service offers two payment options: "Apple Pay in Installments" and "Apple Pay Monthly Installments."

With "Apple Pay in Installments," users can divide their purchase into four interest-free payments made every two weeks. Meanwhile, "Apple Pay Monthly Installments" allows users to pay for their purchase over several months with interest, starting at a 6.99% Annual Percentage Rate (APR) for those with good credit.

The service can be used to make purchases anywhere Apple Pay is accepted, including in stores, apps, and on websites. Apple Pay Later also provides users with an option to settle their balance early and avoid interest charges.

To use the service, users must have an Apple Card, which offers cashback and other benefits. Users without an Apple Card can apply for one through the Wallet app.

The service will launch in the United States in the coming months and is expected to be rolled out globally in the future.