Apple Offers One Year Interest Free Payment Plan in China

Posted January 16, 2013 at 8:39pm by iClarified | Please help us and submit a translation by clicking here | 4090 views

Apple is offering monthly payment plans to customers in China via a China Merchants Bank card, reports the Financial Times.

Anything that costs more than Rmb300 ($48 USD) can be purchased on credit. Monthly plans of 3, 6, 12, 18, or 24 months are being offered via a China Merchants Bank card. The 3, 6, and 12 month plans are interest-free; however, the 18 month plan has a 6.5% interest rate and the 24 month plan has a 8.5% interest rate.

The service is similar to Apple's offering in the U.S. which partners with Barclays but has a higher minimum purchase and quicker repayment schedule.

It's thought that the move could help Apple penetrate further into the Chinese market where its products are difficult to afford for many.

Read More


Share
Add Comment
Follow iClarified
Twitpic Reaches Last Minute Deal With Twitter to Keep Its Photos Alive
Twitpic has reached a last minute deal with T...
PanguTeam Issues Update on iOS 8 Jailbreak
The PanguTeam has issued an update on the sta...
Apple Submits Refined Plans for Phase 2 of Apple Campus 2 Construction
Apple has submitted refined plans for Phase 2...
Apple is Reportedly Rebuilding Beats Music to Relaunch It Next Year as Part of iTunes
Ralph Nader Slams Tim Cook for Buying Back Stock Instead of Helping Impoverished Workers