Apple Launching iPad, Mac Monthly Payment Plan For Apple Card Users

Apple is launching a monthly iPad, Mac payment plan for Apple Card users, allowing them to split up the cost over several months with interest-free payments, according to a source spoke to Bloomberg.

The company is expected to roll out this feature in the coming weeks, with the payments will be managed through the Apple Card section in the Wallet app on the iPhone and charges will be added to a customer’s monthly Apple Card bill.

Bloomberg says that the 12-month payment plan will be available for people who are preparing to buy iPads, Macs, the Apple Pencil, and iPad keyboards, as well as the Mac XDR Display monitor. Meanwhile, there will be a six-month with no interest payment plan for the AirPods, Apple TVs, and HomePod.

Furthermore, customers will receive three percent Daily Cashback for their purchases, plus the plans will be compatible with Apple's educational discounts.

Apple sprang a similar program for the iPhone last year, offering 24 months no interest.

CEO Tim Cook said on the company's second-quarter earnings call in April that it would introduce an installment payment plan for devices beyond the iPhone but did not specify timing or features.

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