Credit card firms aren’t offering you with their providers out of the goodness of their hearts. The enterprise mannequin is that they hope folks will use their playing cards and credit score to make purchases they will’t afford, after which earn curiosity from the unpaid quantities down the highway, so it’s not onerous to see why Apple could possibly be profiting from that.

According to a report from Bloomberg, the corporate is outwardly planning a brand new Apple Pay function much like PayPal’s Pay In 4. For these unfamiliar, that is the place you get to purchase one thing after which pay it again later versus paying upfront all the quantity. In PayPal’s case, the quantity can be break up into 4 separate funds, which in idea ought to make it a bit extra reasonably priced.

Apple’s method is claimed to be comparable the place it should apparently be referred to as “Apple Pay in 4” the place making a purchase order through Apple Pay, clients may have the choice to make the funds later by paying it again over 4 interest-free funds each two weeks, or over the course of a number of months with curiosity.

There’s no phrase on when the function will probably be launched, however Apple is planning an occasion in September for the iPhone so if they don’t announce something earlier than then, chances are high it may be on the occasion itself.

Filed in Apple >General >Rumors. Read extra about Apple Pay and Paypal. Source: bloomberg