Apple and Goldman developing a buy now, pay later service internally known as ‘Apple Pay Later’

Buy now, pay later options are numerous, with some of them gaining plenty of attention over the last year or so. This idea is apparently one that Apple is interested in, too. And with Goldman Sachs, the banking establishment that helped Apple launch the Apple Card, Apple may actually launch its own alternative.

According to a report today fromĀ Bloomberg, Apple and Goldman are working to build a service known as “Apple Pay Later” internally. This new idea would allow Apple Pay users to pay for their purchase over time, with monthly installments. This would actually be available for any Apple Pay purchase, too, not just limited to Apple products.

This type of service has grown in popularity from options like Affirm and PayPal. To make it as easy as possible to use, the report says that Apple would build this new buy now, pay later service directly into Apple Pay. This seems to indicate that customers would get the option at checkout while using Apple Pay.

This could be an expansion of the Apple Card monthly installment option that exists for those customers. However, this should be more widely available to more customers. Goldman will still be processing customer checks, though, and doling out the financing necessary for the monthly installment.

No official word quite yet. But this would be a big move on Apple’s part.