Apple’s Pay Later, savings account continue to see delays

Apple Pay Later was announced at the 2022 Worldwide Developer Conference in June. When it arrives, it will provide users in the US with a way to split the cost of an Apple Pay purchase into four equal payments spread over six weeks, with zero interest and no fees. 

Users will be able to track, and repay Apple Pay Later payments within Wallet. Users will purportedly be able to apply for Apple Pay Later when they’re checking out with Apple Pay, or in Wallet. Additionally, with Apple Pay Order Tracking, users will be able to receive detailed receipts and order tracking information in Wallet for Apple Pay purchases with participating merchants.

As for its delay, Gurman says Apple has given no explanation other than a vague comment at the bottom of the iOS 16 website, though he reported it would be delayed until at least spring 2023

Apple and Goldman Sachs announced the savings account feature in October, with the intention of a rollout in the near future. But that offering also never launched. 

“Neither company has said why,” Gurman writes. “I imagine Apple is having problems with the new back-end infrastructure it developed to support future fintech release.”

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