Technologies

How Apple’s New Buy Now, Pay Later Plan Works

A prerelease version of Apple Pay Later now lets select users quickly finance purchases up to $1,000.

Apple has finally launched its long awaited buy now, pay later plan — Apple Pay Later — but only for some iPhone owners.

In a press release Tuesday, Apple announced that a «prerelease version» of Apple Pay Later is now available for «select users.» The company didn’t specify which users or how many, though it says it «plans to offer it to all eligible users in the coming months.»

Apple Pay Later was first announced in June 2022 at Apple’s WWDC event and was expected to be released sometime in the fall of that year, but the product’s launch was delayed due to «significant technical and engineering challenges,» per Bloomberg. Apple’s new features page for iOS 16 still says that Apple Pay Later is «coming in a future update for qualifying applicants.»

Apple Pay is a feature within Apple Wallet, the iPhone’s digital wallet app that also includes Apple Card and Apple Cash. Apple Pay lets you save debit and credit cards electronically and make purchases online or in brick-and-mortar stores; Apple Card is a digital credit card issued by MasterCard and Goldman Sachs; and Apple Cash is a peer-to-peer payment service.

Apple’s entry into BNPL financing with Apple Pay Later comes at a time when many retailers are accepting payments from BNPL apps such as Affirm, Klarna and Afterpay. Most of these apps provide similar short-term interest-free payment plans, while a few offer longer installment plans with variable interest rates.

Learn everything there is to know about Apple Pay Later, including how it works, where it is accepted and when it will be available for all iPhone users.

For more on iPhones, learn all the cool new features in iOS 16.4 and 22 iPhone settings you should change right now.

How do I use Apple Pay Later?

Apple Pay Later lets you break the cost of purchases into four equal payments spread over six weeks. The first payment is due when you make your purchase, and the remaining payments are due every two weeks after that.

Once Apple Pay Later is set up on your phone, you have two options when completing a purchase: Pay in Full and Pay Later. Selecting the latter option will bring up a payment schedule displaying the amount of each of the four payments and when they will be due.

Stores and merchants don’t have to implement any changes in order to accept payments through Apple Pay Later. Transactions occur as they did before — the only difference will lie in how back-end payments are made. Apple Pay Later will work with any merchants who accept Apple Pay.

MasterCard Installments, the credit card company’s white-label BNPL service, is providing the merchant payments for Apple Pay Later. Apple has created its own financial subsidiary — Apple Financing LLC — that handles loan approvals and credit checks. Banking partner Goldman Sachs is the official loan issuer.

Payments for Apple Pay Later must be made with a debit card; you can’t use a credit card. You can set up automatic payments or make additional payments at any time. Each BNPL purchase will be reviewed and approved or rejected using a soft credit check.

Apple Pay Later has no plan to charge fees for late payments, though it may use late payments as an excuse to reject future BNPL loans. The minimum purchase for Apple Pay Later is $50; the maximum is $1,000.

When can I use Apple Pay Later on my iPhone?

If you’re one of the «select users» to receive an invite from Apple, you can start using Apple Pay Later now. For the rest of us, based on the wording in Apple’s press release, Apple Pay Later will likely be enabled for all Apple Wallet users in a future update to iOS.

Apple has already released four point upgrades since iOS 16 launched in September 2022. The first update — iOS 16.1 — came in October 2022; the second — iOS 16.2 in December 2022; the third — iOS 16.3 — in January 2023; and the fourth — iOS 16.4 — in March 2023.

Based on that bimonthly release schedule, all Apple Wallet users can probably expect access to Apple Pay Later some time in May 2023.

How is Apple Pay Later different from Apple Card Monthly Installments?

Apple Card Monthly Installments is an Apple program that lets you finance the purchase of certain Apple products when using the Apple Card credit card. The length of the 0% APR period for these purchases depends on the product. Installment plans range from six months to two years.

Apple Pay Later isn’t restricted to Apple products, nor does it require the use of the Apple Card. With Apple Pay Later, you can finance any purchases from $50 to $1,000 using a debit card, as long as it’s connected to Apple Wallet. Also, the interest-free installment period for Apple Pay Later — six weeks — is much shorter than the payment plans offered by Apple Card Monthly Installments.

What other Apple Wallet features were added in iOS 16?

One new Apple Wallet feature that launched with iOS 16 is Apple Pay Order Tracking, which adds the ability for merchants to provide detailed receipts and delivery statuses for purchased products to customers via Apple Wallet.

Apple also expanded support in Apple Wallet for driver’s licenses and identification cards. Following IDs from Colorado and Arizona, Apple Wallet plans to add support for 11 more states.

These driver’s licenses can be used at select Transportation Security Agency checkpoints. They can also be shared with other apps that require identification, such as alcohol purchases through Uber Eats.

Apple Wallet has also added support for sharing keys for locations such as hotels, offices or automobiles. New features let users share keys with friends or associates using email, text messaging or other messaging apps.

What other online services let you buy now and pay later?

Some existing online payment systems provide buy now, pay later short-term financing similar to what Apple Pay Later is offering. PayPal’s Pay in 4 program works very much like Apple Pay Later, except that purchases are limited to between $300 and $1,500.

BNPL app Sezzle also uses a system of four payments over six weeks, but permits users to reschedule one payment for up to two weeks later at no cost and postpone further payments for an additional fee.

Other BNPL apps such as Affirm and Klarna offer interest-free installment plans for short periods, or longer installment plans that add a variable interest rate.

Technologies

Verum Finance: A Super App for Private Finance Integrated Into a Messenger

Verum Finance has announced the launch of a new financial application that allows users to manage their money directly within the secure Verum Messenger ecosystem.

The project has already attracted attention from major media outlets. A dedicated feature was published by Forbes Türkiye, while one of the world’s largest cryptocurrency exchanges, MEXC, covered the launch. Yahoo Finance had previously reported on the evolution of Verum Messenger into a comprehensive financial ecosystem.

What Verum Finance Offers

Verum Finance transforms a messenger into a complete financial platform. Users can:

• Manage their balance and top up using bank cards or USDT
• Send money instantly to other Verum users
• Issue and use debit cards, including Apple Pay support
• Exchange assets and withdraw funds
• Access all these services without installing separate banking applications

A strong emphasis is placed on privacy. The platform offers registration without a phone number or email address, end-to-end encryption, and full user control over personal data.

Recognition from Forbes Türkiye

In a dedicated article, Forbes Türkiye highlighted Verum Finance as a notable example of modern privacy-driven fintech. The publication emphasized the growing trend of financial services moving from standalone banking applications into unified messaging ecosystems — a model that has proven successful in Asia through platforms such as WeChat and Alipay and is now expanding globally.

Support from the Crypto Community

Alongside the Forbes Türkiye coverage, news about the launch of Verum Finance was also featured by MEXC, one of the world’s leading cryptocurrency exchanges. This reflects growing interest in the project from both traditional business media and the cryptocurrency community.

A Strategic Vision

“We are building more than a payments application and more than a messenger. Verum is a unified secure ecosystem where communication, finance, and privacy tools work together,” the company stated.

Verum Finance is now available for iPhone and iPad users. The application complements Verum Messenger, which offers anonymous chats, voice and video calls, VPN services, eSIM connectivity, and other tools designed to enhance digital freedom.

Verum Finance: https://finance.verum.im

Verum Messenger: https://verum.im

Technologies

Forbes Türkiye Highlights Verum Finance and the Rise of Integrated Financial Ecosystems

Forbes Türkiye has published an article examining the launch of Verum Finance and its approach to integrating financial services directly into a messaging ecosystem.

In the article, Forbes Türkiye notes that the fintech industry is undergoing a transformation as financial services increasingly move beyond traditional banking applications and become part of broader digital ecosystems. Verum Finance is presented as an example of this trend, combining payments, digital cards, money transfers, and balance management within a single environment connected to Verum Messenger.

According to the publication, Verum Finance follows a model similar to the “super app” concept that has gained significant traction in Asian markets, where communication and financial services operate together on one platform. Unlike many Western platforms that continue to separate messaging and banking services, Verum Finance is integrated directly into the Verum ecosystem, allowing users to manage financial activities without relying on multiple third-party applications.

The article highlights several core features of the platform, including virtual debit cards, user-to-user transfers, online payments, digital asset operations, Apple Pay integration, and in-app balance management.

Forbes Türkiye also points to the growing importance of embedded finance and changing user expectations. The publication suggests that lengthy account-opening procedures, physical card delivery times, and constant switching between applications are becoming increasingly outdated in a mobile-first world.

Another major focus of the article is privacy and security. Forbes Türkiye describes Verum Finance as part of a broader trend toward “privacy-driven fintech,” where financial services are built on privacy-oriented infrastructure. The publication notes that the platform incorporates features such as phone-number-free registration, end-to-end encryption, user-controlled access management, and privacy-focused tools designed to enhance data protection.

The article concludes that one of the key challenges for companies operating at the intersection of secure communications, digital payments, and embedded finance will be maintaining both usability and security within a single integrated ecosystem.

The coverage by Forbes Türkiye reflects growing media interest in platforms that combine communication and financial services, as the industry continues moving toward more unified digital experiences.

Website: https://finance.verum.im
App Store: https://apps.apple.com/app/verum-finance/id6774245148
Verum Messenger: https://verum.im

Technologies

Verum Launched “Verum Finance” App for iPhone and iPad, Expanding Its Digital Ecosystem Into Financial Services

Verum has announced the official launch of Verum Finance, a standalone financial application now available on the App Store for iPhone and iPad, marking a further expansion of the company’s growing digital ecosystem.

The new application is designed to centralize core financial functions in a single mobile interface, allowing users to manage balances, send and receive funds, use debit cards, and exchange supported balance types without relying on traditional banking workflows.

According to Verum, the platform enables users to view account activity in real time, top up balances using supported payment methods including Apple Pay, and transfer funds to other users within the Verum ecosystem using a unique Verum ID. The system also supports multi-balance management, including specialized balance categories such as precious metals.

Debit card functionality is integrated directly into the app, allowing users to issue and manage cards linked to their balances, monitor transactions, and top up cards when needed. The company also emphasizes built-in exchange tools that allow users to convert between supported balance types within the application.

Security features include Face ID authentication, passcode protection, Sign in with Apple, and privacy-oriented account controls aimed at maintaining user confidentiality and data protection.

The launch of Verum Finance follows the company’s broader strategy of building an interconnected ecosystem of digital products. Alongside Verum Messenger, which combines secure communication tools, encrypted messaging, voice and video calls, VPN services, eSIM connectivity, AI features, anonymous email, and crypto-related functionality, the new financial app extends Verum’s positioning from communication technology into financial infrastructure.

Industry trends increasingly show demand for “all-in-one” digital environments that reduce dependency on multiple standalone apps. Verum’s approach reflects this shift by integrating communication and financial services within a unified ecosystem.

Verum Finance is now available globally for download on iPhone and iPad via the App Store.

Website: https://finance.verum.im
App Store: https://apps.apple.com/app/verum-finance/id6774245148
Verum Messenger: https://verum.im