Apple is preparing the rollout of a plan to allow consumers to purchase devices beyond the iPhone – Macs, iPads, AirPods, and more – via installment payments using their Apple credit card.
Payments for costlier devices, including an iPad and Mac, can be spread out over 12 months, while cheaper devices, including AirPods, Apple TV, and its HomePod speaker, can be paid over the course of six months. Consumers won’t have to pay interest. The payments will be evenly split and charged monthly to the Apple credit card.
Enabling interest-free installment payments will not only drive sales of Apple devices but it may get more people to use its credit card, which it launched in conjunction with Goldman Sachs in August. The credit card is built into the iPhone’s wallet app and offers perks beyond the interest-free payments, including daily cash back.
MacDailyNews Take: In a time of COVID-19 shutdown-induced economic woes, Apple’s plan to spread out payments with installment plans for products ranging from Macs on down is a prefect idea for the times that will pay dividend for the company as the world recovers from the aftermath of COVID-19.