During Apple’s fourth quarter 2019 financial conference on October 30thNS, Apple CEO Tim Cook commented on Apple Pay in his opening statement: “We had record all-time revenue with payment services for Apple Pay, revenue and transactions more than doubled year-on-year, with over three billion transactions above that in the September quarter PayPal’s number of transactions is growing four times as fast. Apple Pay is now available in 49 markets around the world with over 6,000 issuers on the platform. “
At one point, Cook revealed something new that would come to Apple Pay: “And I’m really excited to announce that we’re adding another great feature to Apple Card later this year. Customers can buy their new iPhone and pay interest-free within 24 months. And you will continue to enjoy all the benefits of the Apple Card, including 3% cashback on the total cost of your new iPhone with no fees and the ability to easily manage your payments directly in the Apple Wallet app on the iPhone. We believe these features will by and large appeal to all iPhone customers, and we believe this has been the most successful credit card launch in the US ever. “
Introduction to Apple Card Monthly Installments
Apple is introducing a great new way to buy an Apple iPhone – online at apple.com, in the Apple Store app, or at your local Apple Store. Pay with interest-free monthly installments. Get Cash Back Everyday. And see it all along with your daily Apple Card purchases.
Apple Card monthly payments are the new, easy way to buy an iPhone and pay over time with interest-free, low monthly payments.1 And get 3% cash upfront every day when your iPhone ships or when you get a new one Buy iPhone in an Apple store.
You can use the Apple Card’s monthly payments to buy more than one iPhone. Every new iPhone you buy has its own monthly Apple Card payment plan. The amount you fund for each iPhone will be deducted from your available Apple Card balance. The number of devices you can buy with monthly Apple Card installments is only limited by your available balance.
Buy your next iPhone with monthly installments for the Apple Card
Apple says you can simply select your new iPhone, then select monthly installments using Apple Card as a payment option in the Apple Store app or online at apple.com. If you don’t have an Apple Card, you can easily apply for one on your iPhone when you check out. Or you can visit an Apple Store and a specialist can help you buy an iPhone with monthly Apple Card installments. You can also apply for the Apple Card in the Wallet app on your iPhone before buying your next iPhone.
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If you already have an Apple Card, there is no need to fill out an additional application.
Get a full overview of the new monthly Apple Card rates here.