Apple plans to launch an interest-free installment plan for customers who use Apple Card to buy products such as iPads, AirPods and Macs, according tomedia reports. Apple will launch the new option in the coming weeks, with customers having up to 12 months of interest-free repayment, Bloomberg reported.
The December interest-free repayment plan is understood to be available for iPads, Macs, Apple Pencil, iPad keyboards, Pro Display XDR, AirPods, Apple TV and HomePod, which will have a six-month interest-free repayment plan.
Consumers will be able to pay through the Wallet app, and the money they will pay back will be added to their Apple Card bill each month.
In December, Apple introduced a 24-month interest-free installment plan for Apple Card users. Under this package, consumers can use Apple Card to get a 24-month iPhone installment.
The new equipment payment plan will work in the same way. Consumers receive a 3% cashback per day, and the program also supports Apple’s educational discounts.
Apple CEO Tim Cook said on a recent earnings conference call that the company is planning to offer payment plans for devices other than the iPhone. “As you know, we previously launched a payment plan for the Apple Card iPhone purchase. (Now) we are working on the development of other products, and you will see the results soon. “
Apple’s upcoming payment plan is understood to be aimed at boosting sales of Apple devices and promoting Apple Card registration.