As of August 26, the cost to make an Apple Cash Instant Transfer will be 1.5% of the transfer amount, with a minimum of 25 cents and a maximum of $ 15. Transfers can also be made via ACH to users’ bank accounts. This money will be transferred within one to three business days at no charge.
Related: Apple to use Affirm in Canada for BNPL purchases
BNPL’s new offering will allow Apple customers in Canada to pay for Apple devices, such as iPhones, Macs and iPads, over a period of one to two years.
Businesses will launch the new program through Apple’s e-commerce and physical retail stores in Canada.
A report released in July indicated that Apple Pay users would have access to an “Apple Pay Later”, which would allow users to purchase products and then pay for them in monthly installments. According to the report, Apple Pay and Apple Pay Later would be connected once Apple launches the new offering. The program will not be unfamiliar to Apple users – as previously discussed, the Apple Pay Later program and the Apple Card Monthly Payments program have similarities.
Read more : Apple’s paid subscriptions reach 700 million; Up to 150M since last year
At the end of July, Apple had its best quarter. The tech giant nearly doubled its profits, far exceeding expectations for revenue, profits, iPhone sales and services.
Initially, the company expected revenue of $ 73.30 billion. However, revenue was $ 81.41 billion, up 36% year-on-year.
Apple experienced double-digit growth in its service product categories, with growth in paid subscriptions noticeable. Thus, Apple’s services brought in more than $ 17 billion.
Stronger-than-expected watch sales led the apparel, home and accessories industry, which grew 36% year-over-year to nearly $ 9 billion. The App Store, which also performed well, saw its combined billings and sales increase 24% to $ 643 billion in 2020.