Stripe, a popular payment processor, has announced support for Apple Pay Later, a feature that allows users to split their purchases into four equal payments over six weeks, with no fees or interest.
Apple Pay Later is a buy now, pay later feature of Apple Pay that allows customers in the United States to split purchases into multiple equal installments across six weeks. Apple backs and manages payments, and businesses are paid the full amount in the same manner as with Apple Pay.
In a new support document, Stripe outlines how the feature will work with its service.
Payment flow
Customers that select Apple Pay during checkout see two payment options: Pay in Full and Pay Later. The first time a customer chooses Pay Later, they complete Apple's application flow. If they're a returning customer using Apple Pay Later, they can complete their Apple Pay Later payment directly in the UI.
Payment options
Customers can use Apple Pay Later for purchases between 75 USD and 1,000 USD. Customers can split a purchase into four equal payments over six weeks, with a down payment due at the time of purchase, and with no interest or fees, while businesses are paid upfront. Apple Pay Later prohibits adding surcharges to purchases. The Mastercard Installments program enables Apple Pay Later through your existing Stripe integration, so it requires no additional integration work for eligible businesses that already have Apple Pay.
Apple Pay Later is available for purchases made with an iPhone or iPad when customers check out with Apple Pay and tap the Pay Later option. It's also built into Apple Wallet so customers can track payment schedules and manage returns.
More details in the full support document linked below...
Read More
Apple Pay Later is a buy now, pay later feature of Apple Pay that allows customers in the United States to split purchases into multiple equal installments across six weeks. Apple backs and manages payments, and businesses are paid the full amount in the same manner as with Apple Pay.
In a new support document, Stripe outlines how the feature will work with its service.
Payment flow
Customers that select Apple Pay during checkout see two payment options: Pay in Full and Pay Later. The first time a customer chooses Pay Later, they complete Apple's application flow. If they're a returning customer using Apple Pay Later, they can complete their Apple Pay Later payment directly in the UI.
Payment options
Customers can use Apple Pay Later for purchases between 75 USD and 1,000 USD. Customers can split a purchase into four equal payments over six weeks, with a down payment due at the time of purchase, and with no interest or fees, while businesses are paid upfront. Apple Pay Later prohibits adding surcharges to purchases. The Mastercard Installments program enables Apple Pay Later through your existing Stripe integration, so it requires no additional integration work for eligible businesses that already have Apple Pay.
Apple Pay Later is available for purchases made with an iPhone or iPad when customers check out with Apple Pay and tap the Pay Later option. It's also built into Apple Wallet so customers can track payment schedules and manage returns.
More details in the full support document linked below...
Read More