Apple introduces a new service allowing customers to pay for purchases in installments.

Apple's new Pay Later model is set to revolutionize the way people shop, allowing customers to purchase items of up to $1,000 and pay for them in four installments over six weeks, with no fees or interest. This is a great way to help customers make informed and responsible borrowing decisions. It's a win-win, as customers get what they want now and have the flexibility to pay it off over time. Financial experts are divided on the concept of layaway, but Apple's version will not report any missed payments to collection companies, granting users peace of mind that their credit won't be affected.

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