“Buy now, pay later”, so you can essentially translate the latest sales strategy iPhone license plate Apple: the company is working on a new service that will allow customers to pay for any Apple Pay purchase in installments. The announcement was enthusiastically received by investors, so much so that the stock hit the stock market.
Apple, what to know if you want to buy an iPhone
Anyone who has already bought an iPhone (or intends to do so) is probably already aware of the fact that many shops – telephony and electronics – have actually always made available the possibility to purchase an Apple product by paying for it in installments. In some cases, thanks to the subscription of a subscription (with data traffic and calls included), in others by signing a real contract with a financial company.
What changes after the announcement made by Apple Inc., is that it will be the manufacturer itself to offer this type of service, internally. It will be called “Apple Pay Later”And will use Goldman Sachs Group Inc. as guarantor for the loans needed to underwrite the installment offers.
This new sales strategy, in fact, it has a goal, which is to make iPhones accessible to everyone (economically), encouraging their purchase and use. Precisely for this reason, given that analysts have predicted an increase in sales, according to reports to Bloomberg from an internal source, Apple Inc. is already taking steps to give a boost to the production of its devices (with the aim to reach + 20% before the start of the new service).
How Apple Pay Later works
Apple Pay Later can be used not only for the purchase of iPhones or other Apple products. The service was in fact developed to allow users to make a purchase through their Apple device, recognizing them the possibility of pay in four interest-free installments made every two weeks or by deferring payments over several months but with interest. There is also the option to pay the rest of the balance – in full – at any time.
The four-payment plan is called internally “Apple Pay in 4”, while the long-term payment plans are referred to as “Apple Pay Monthly Installments”.
For purchases made using the Apple Pay Later plan, users can choose any credit card to associate. In addition, it is likely that the service will be made available to purchases both online and in physical stores. Apple already offers for the purchase of the brand’s products the possibility of choosing the payment in monthly installments via Apple Card, with this service it would therefore only extend the same technology to any Apple Pay transaction.
Apple changes its sales strategy and goes public
The new Apple Inc. service literally won over investors right from the start. Not surprisingly, on Wednesday 14 July, Apple shot up on the stock market, reaching record levels for the fourth consecutive day and jumping up to 2.6%. The company had recently announced the change of course of its sales strategy. The stock rose soon after Bloomberg confirmed Apple’s intention to build up to 90 million of next-generation iPhones in 2021, a 20% increase over its 2020 shipments.
Apple is also on the verge of surpassing the market capitalization of for the first time 2.5 trillion, which no other company has ever done.