Not sure if you've heard of this lil tech boutique based out of Cupertino, California, called Apple Inc.

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Recently at their World Wide Developers Conference (WWDC) Apple revealed a new service that lets consumers pay for Apple Pay purchases in installments over time. Apple Pay looks to rival the "buy now, pay later" industry, and take out companies including Paypal, Klarna, and Affirm.

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Getting your customers to hit that "buy" button is your ultimate goal as an online retailer. But it's much easier said than done (especially in today's economy), and consumers may hesitate to part with their hard-earned cash and think twice before racking up their credit card bill.

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Apple Pay Later gives consumers the option to pay for high ticket items over a longer period, making those larger purchases much more achievable and approachable.

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⚙️ How it works

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No need to jump through hoops. Apple’s got everything in-house. Users who want to use the Apple Pay Later service will be approved through an iPhone Wallet app. Then, they can connect a credit card and make payments for both online and in-store purchases.

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When an Apple Pay user makes a purchase using their mobile, they’ll be given the option to pay through four interest-free payments made every two weeks "Apple Pay in 4", or a few months with interest "Apple Pay Monthly Installments".

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🕰 What does this mean for the future?

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We're sure "buy now, pay later" is a phrase that all marketing and advertisers are familiar with—brands have been using this option at the bottom of the funnel for a while now.

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Companies like Klarna have been implementing this with micro-credit checks (that essentially approve most) to split up price tags into payments and have seen massive benefits in long-term payment plans.

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From the eyes of an advertiser, buying now and paying later can be an interesting approach to a product purchase. But you're now targeting Apple-specific users. If your audience doesn't have Apple Pay, then your brand is just wasting ad spend.

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So take the possible Apple Pay release as an over-encompassing message: this is the dawn of something much bigger in the future.

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This recent release opens up other opportunities for you to offer a very similar option like Apple Pay and proves that your brand needs to be ready for a world of people spending on borrowed credit.

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Please reply to this email and let us know what tech you see being pivotal in the future of product consumption!