June 9, 2020
Apple reportedly has plans to enable zero-interest installment plans for iPad, Mac
Apple is reportedly set to allow Apple Card users to purchase some of the company's most popular products via zero-interest, monthly installment plans.
The Cupertino, California, tech giant will launch the service in the coming weeks, according to Bloomberg, which cited people familiar with the rollout. The move will allow customers to buy iPads, Macs and AirPods via Apple's branded credit card, and they'll have months to pay off the merchandise.
The Wallet app on iPhones will be ground zero for managing the monthly payments, according to Bloomberg. Apple doesn't comment on product release rumors ahead of launch dates.
In 2019, the smartphone maker kicked off a similar program for iPhones, enabling customers to make payments for 24 months at no interest.
The bolstered program would allow users to pay for additional products like laptops, keyboards and monitors over 12 months, Bloomberg reports. Customers would have 6 months to pay off products like AirPods and HomePods, the report said.
Apple launched its credit card, a Mastercard, in 2019 through a partnership with issuer Goldman Sachs. The credit card offers unlimited cash back on purchases. Users get 3% cash back on items they buy from the company at the Apple Store as well as in the App Store, iTunes and on the company's website.
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