Apple is working on an interest-free installment plan for iPad, Mac

Apple is reportedly set to allow Apple Card users to purchase some of the company’s most popular products through interest-free monthly installment plans.

The Cupertino, Calif.-based tech giant will launch the service in the coming weeks, according to Bloomberg, which cited people familiar with the rollout. The move will allow customers to purchase iPads, Macs, and AirPods through Apple’s branded credit card, and they’ll have months to pay for the merchandise.

The Wallet app on iPhone will be ground zero for managing monthly payments, according to Bloomberg. Apple does not comment on product release rumors before launch dates.

In 2019, the smartphone maker launched a similar program for iPhones, allowing customers to make payments for 24 months interest-free.

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The enhanced program would allow users to pay for additional products such as laptops, keyboards and monitors over 12 months, Bloomberg reports. Customers would have six months to pay for products like AirPods and HomePods, according to the report.

Apple launched its credit card, a Mastercard, in 2019 through a partnership with issuer Goldman Sachs. The credit card offers unlimited cash back on purchases. Users get 3% cash back on items they purchase from the company on the Apple Store as well as the App Store, iTunes, and the company’s website.

Follow Dalvin Brown on Twitter: @Dalvin_Brown.

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