Apple takes finance a step further with Buy Now, Pay Later offer

Apple Inc. got into finance with Apple Pay and the credit card it launched three years ago with Goldman Sachs Group Inc. Now it’s all happening.

The tech giant is launching a buy it now, pay later offer in the US later this year that will allow consumers who buy with Apple Pay to split their purchases into four payments every two weeks. Apple will guarantee the loans and fund them, which also means absorbing losses when borrowers default. An Apple subsidiary has obtained loan licenses in most states to offer the new payment plans, called Apple Pay Later.