In their product launch they claim that 85% of merchants in the US accept Applepay and it is enabled by Mastercard, allows purchases of between $50 and $1,000, with 4 payments spread over 6 weeks. There is no interest or fees. Although it is a limited trial, my take is that they are wanting to get down and dirty with their opposition, so it will be used for burgers and fries as well as anything else. It will be interesting to see how it develops because they are doing the whole process from lending to collections inhouse, unlike others who only put their badge on an existing product.
Shorters are back, page-411
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