New feature in Apple Pay, now you can borrow up to 1000 dollars without interest
Apple has launched ‘Apple Pay Letter’ service. Under this, a loan of 50 to 1 thousand dollars can be taken from Apple’s digital wallet Apple Pay.
The loan can be used to pay with Apple Pay. It is said that Apple’s Pay Letter facility, which was released in the United States on Tuesday, will be expanded to other countries as well.
The loan taken by the user can be paid 4 times in 6 weeks. You don’t have to pay any interest or separate fees while taking a loan.
Currently, this feature will only be available to certain users. This feature is available on iOS 16.4 and iPad OS 16.4. Wallet users can view, track and manage loans from one place.
From Apple Pay Letter, wallet users can easily view the record of all outstanding loan amounts and the amount to be paid in 30 days.
It is said that the user can track and pay the remaining amount from the wallet’s calendar. The person will also receive a notification in the wallet and email as the payment date approaches.
The loan is underwritten by Apple Financing LLC, a subsidiary of Apple. Loans taken from Wallet will be reported by the company to the US credit bureaus.
Images mentioned above related to are either copyright property of ICT-Samachar or respective image owners.