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Apple launches it's own buy now, pay later service

IPhone Maker Apple Inc On Tuesday Launched Its Buy Now, Pay Later Service

In the United States, 'Apple Pay Later' is now available, giving consumers the option to pay for their purchases over time.

Split purchases into four payments with no interest or fees.

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Users can apply for loans between $50 and $1,000 to use for online and in-app purchases made with Apple Pay.

Apple plans to offer 'Apple Pay Later' to all eligible users in the coming months, with a prerelease version available to select users.