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Apple, Goldman Plan ‘Buy Now, Pay Later’ Service to Rival Affirm

  • Service to let users pay off any Apple Pay purchase over time
  • Fresh partnership with Apple could boost Goldman consumer push
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Here's How Apple's ‘Buy Now, Pay Later’ Service Will Work
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Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the “buy now, pay later” offerings popularized by services from Affirm Holdings Inc. and PayPal Holdings Inc.

The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs Group Inc. as the lender for the loans needed for the installment offerings, according to people with knowledge of the matter. Goldman Sachs has been Apple’s partner for the Apple Card credit card since 2019, but the new offering isn’t tied to the Apple Card and doesn’t require the use of one, said the people, who asked not to be named discussing unannounced products.