I know it’s a pay-in-4 buy now pay later (BNPL) product, similar to the ones that Klarna, Afterpay, and Affirm have been offering for a while. The consumer is given the option to split purchases between $50 and $1,000 into four equal installments, with the first installment being paid at checkout and the remaining three installments being repaid biweekly over a six-week span. There is no interest or fees, and all of the consumer’s Apple Pay Later loans can be tracked and managed in the Apple Wallet app.