As Apple prepares to introduce Apple Pay Later (buy now, pay later) service, Apple continues to work on a program that allows users to purchase iPhones with a monthly subscription. However, there are rumors that the iPhone subscription service, like Apple Pay Later, will also be delayed.According to Bloomberg’s Mark Gurman, Apple is currently working on four fintech projects. Two of them (Apple Card Savings Account and Apple Pay Later) have been announced. The other two (iPhone hardware subscription program and Apple Pay installment payment program) are yet to be announced. The subscription iPhone sales program was expected to be introduced with the 2021 iPhone 13 or 2022 iPhone 14, but due to technical problems, the project is progressing slowly, and it was not released on the date it was supposed to be released. However, this does not mean that the project is over or shelved.
The iPhone hardware subscription program will allow users to purchase iPhones by paying a certain monthly fee depending on the model they choose. The monthly fee will not be the price of the device divided over 12 or 24 months.
While the Apple Pay Later service is expected to launch by March or April 2023, there’s no word on when the subscription service for the iPhone will arrive.
24555
