the staff of the Ridgewood blog
Ridgewood NJ, Apple will handle the lending for its new buy now, pay later service through its subsidiary Apple Financing LLC. The subsidiary is licensed to provide lending services and will remain separate from Apple’s main business. It is the first time that Apple will take on financial responsibilities like credit checks and lending. The company will run soft credit checks when customers apply for its Pay Later service. It will not extend additional credit to users who miss a payment, although missed payments won’t count against users’ overall credit score.
