Report: Apple hardware subscription and a 'buy now, pay later' option will be the next services to launch

Apple Store Cutout Nyc Update
Apple Store Cutout Nyc Update (Image credit: iMore)

What you need to know

  • Apple is said to be working on two specific services that will launch next.
  • A new Apple Pay 'buy now, pay later service' is rumored to be in the works.
  • Apple is already said to have plans for a new type of hardware subscription service.

Apple still has some new services that need to be launched, with a new report claiming that a hardware subscription and the addition of a 'buy now, pay later' Apple Pay option will be the next two to come out of Cupertino.

Writing in the weekly Power On newsletter, Bloomberg's Mark Gurman pointed to the two services as the next to come off the Apple production line. We've heard rumors of a new Apple hardware subscription service before, while the idea of an Apple Pay pay later service is something that sounds very similar to what the likes of Klarna already offer.

There are a few new Apple services in development. The next two we should see: the iPhone hardware subscription program and "buy now, pay later" for Apple Pay transactions.

It's notable that Gurman mentions the "iPhone hardware subscription program" but it is thought that subscriptions will be available for other hardware like its MacBook Pro offerings, too.

In terms of the pay later feature, Apple recently bought a UK company that could make such a thing possible. Credit Kudos is a banking startup that "helps lenders make better decisions," something that could come in handy when you're allowing people to make purchases and pay over a set period of time. It was originally thought the buyout could lead to the launch of Apple Card in the UK, but it could also be something used here, too.

Apple's services business is one of its most important and it's no surprise that the company would look to expand its reach. Both potential additions would be of benefit to users — both could allow more people to get their hands on the best iPhone available at the time, for example.

While Gurman does say that both of these services will be the next out of the gate, it isn't known when that will happen. Rumors of at least one arriving before the end of the year have already begun to swirl, though.

Oliver Haslam

Oliver Haslam has written about Apple and the wider technology business for more than a decade with bylines on How-To Geek, PC Mag, iDownloadBlog, and many more. He has also been published in print for Macworld, including cover stories. At iMore, Oliver is involved in daily news coverage and, not being short of opinions, has been known to 'explain' those thoughts in more detail, too. Having grown up using PCs and spending far too much money on graphics card and flashy RAM, Oliver switched to the Mac with a G5 iMac and hasn't looked back. Since then he's seen the growth of the smartphone world, backed by iPhone, and new product categories come and go. Current expertise includes iOS, macOS, streaming services, and pretty much anything that has a battery or plugs into a wall. Oliver also covers mobile gaming for iMore, with Apple Arcade a particular focus. He's been gaming since the Atari 2600 days and still struggles to comprehend the fact he can play console quality titles on his pocket computer.