Initially, iOS 16 was scheduled to include the feature.
According to Mark Gurman of Bloomberg, Apple Pay Later might not launch until next spring. As you may remember, Apple revealed the buy now, pay later function at WWDC 2022 and promised that iOS 16 would have it. Apple Pay Later is not present in the most recent version of the company's mobile operating system.
The functionality will be available "in a future update," according to a footnote on Apple's website. Gurman points out that other iOS 16 features that have been previously announced but aren't yet accessible are described as coming "later this year." Gurman theorizes that the discrepancy results from Apple not knowing when Pay Later would be available, and that the functionality may not come until the release of iOS 16.4 in 2023. He adds, "I hear there have been some rather major technical and engineering issues in putting out the service, leading to delays.
It's fascinating to read that Apple is having trouble creating a Pay Later option due to technological issues. The corporation has reportedly been working on such a feature for more than a year, according to Gurman's prior reports. Even further, it went out of its way to establish a company named Apple Financing to handle client approvals and credit checks. All of those actions imply that the corporation expects a significant future in the financial services sector.
According to a rumor, technical difficulties would prevent Apple from officially implementing the instalment payment option until 2023. Although the service should benefit users, it might not launch until the end of 2022. According to Mark Gurman's "Power On" newsletter for Bloomberg, Apple has added a note to the short caution wording regarding the functionality at the bottom of the iOS 16 page. The text claims that Apple Pay Later is "coming for eligible applicants in the US for purchases made online and in apps on the iPhone and iPad in a future update. Possibly not accessible in all states."
Apple Pay Later is the only one of the half a dozen capabilities labelled as coming later that doesn't have a timeframe, as Gurman points out, demonstrating how careful Apple is with language. The release dates for all other postponed features are noted as "later this year."
This cautious phrasing makes Gurman believe that Apple is unsure of the precise date of the public release of Apple Pay Later. Gurman believes it might not launch effectively until iOS 16.4 in the spring of 2023 after learning of "pretty significant technical and engineering obstacles in carrying out the service." When it eventually launches, Apple Pay Later will divide a transaction's cost into four instalments spaced out over a period of six weeks. The service will be offered without any charges or commissions and will be funded entirely by Apple.