That first installment is due on the day you make the purchase. To repay the loan, you pay in four equal installments every two weeks, which is where the first of two downsides comes in …. You’ll then see a new tab asking you to choose between Pay in Full and Pay Later. If you’re approved, then you can go ahead and make your purchase, selecting Apple Pay as the payment method. Apple then carries out a “soft” credit check, which means it checks your rating but doesn’t record the fact that this has been done, so it won’t be visible to other lenders. You’ll be asked how much you want to borrow, and prompted to agree to the terms. Once you’ve decided what you want to buy, you apply for the service within the app. Let’s start by looking at how Apple Pay Later works. But there are a few things to consider … How it works It’s interest-free, there’s no application form to fill out, there’s no impact on your credit rating, and you’re dealing with Apple rather than a bank or finance company. On the surface, it seems like a decent option. But while you will be able to use it soon, the question is: Should you? Where can I use it?Īnywhere on the high street that takes contactless cards and also has an Apple Pay, Google Pay or Samsung Pay logo is compatible, including Marks and Spencer, Lidl, Pizza Express and Boots.Some people can already use Apple Pay Later, with the company promising that it will come to “all eligible users” in the next few months. Check whether it has NFC under 'Wireless and Networks', and which version of the Android operating system software it runs under 'About Phone'. GHI Tip: Check your Android smartphone is compatible in the Settings menu.

Samsung Pay works on the Samsung Galaxy s6 and more recent models, the Galaxy A series of smartphones and Samsung Galaxy watches.Google Pay works on any Android 5.0 smartphone (or newer) with Near-Field Communication (NFC), and several Wear OS smartwatches including Huawei Watch 2, Fossil and TicWatch models.The oldest model you can use Apple Pay on is the iPhone 6 (the Apple watch is also compatible).

Not sure whether your phone will support contactless payments? EMS-FORSTER-PRODUCTIONS // Getty Images Do all phones support mobile payments?

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