Apple Prepare Interest-Free Payment Plans For iPads, Macs
Apple is reportedly set to offer consumers with interest-free payment plans on purchases of iPads, Macs and more via its ‘Apple Card’ credit card, following the global coronavirus pandemic.
The news comes as payment plan providers such as Afterpay record booming growth in recent months, prompt by a lift in online shopping from home-bound consumers.
The Apple Card was launched in August 2019 in partnership with Goldman Sachs in the United States, with no word yet on when it will land in Australia.
According to Bloomberg, Apple is preparing to facilitate monthly instalment payment plans for many of its products, splitting the cost over several months with interest-free payments via the Apple Card.
The news offers an indication of alternate avenues Apple is pursuing to increase the ‘affordability’ of tech products amid the economic impact of COVID19.
The Cupertino tech giant is reportedly planning to roll-out the program in coming weeks.
A 12-month interest-free payment plan is tipped to roll out for iPads, Macs, iPad keyboards and the Mac XDR Display monitor, with a six-month no interest plan for AirPods, the HomePod smart speaker and Apple TV.
It comes after Chief Executive, Tim Cook, flagged the possibility of an broader instalment payment plan initiative during its Q2 earnings call in April.
Apple launched a similar program for the iPhone last year, with 24-months no interest last year.