3 ms·
The article's author seems to have tried to find penalties, but came up empty. > Compared to other BNPL schemes, this writer hasn’t found anything about late p
by rpdillon 3y ago
The article's author seems to have tried to find penalties, but came up empty.
> Compared to other BNPL schemes, this writer hasn’t found anything about late payment fees, debt collection, or charges that kick in upon non-payment of a scheduled amount.
I did 45 seconds of research and found Apple's official confirmation:
> Apple Pay Later doesn't charge any fees or interest, even if your loan account goes past due.
https://support.apple.com/en-us/HT213543 https://support.apple.com/en-us/HT213543
- paxys 3y agoOnly because it is in pre release and not yet available to the general public. Apple isn't a fountain of free money. Of course they will collect on loans. Affirm for example routinely sells past due debt to collection agencies. Has Apple said they won't do the same?
- matthewdgreen 3y agoI would imagine that (as in any business) you want to offer the best possible terms early in the product lifecycle when it's subject to the most attention, and you want new adopters to be comfortable with it. Then you can add fees and penalties later on once you have a stream of customers dependent on it.