Apple has finally started to roll out the “buy now, pay later” service it announced last June.

The imaginatively-titled Apple Pay Later sits in Apple Wallet. It splits purchases into four payments, spread across six weeks, without fees or interest.

Apple will fund the loans via its own Apple Financing LLC, set up for this purpose. This means Apple will be conducting credit checks and using its own infrastructure – which is the reason for the lengthy delay.

It will also be partnering with Mastercard’s installments program to facilitate the split payment system.

A timeline for the Australian roll out isn’t clear. We have contacted the company and will update the story once they respond.