WWDC: Apple enters into pay later segment; launches other iPhone updates

Tech giant Apple Inc has unveiled a series of new software and services at its much-awaited Worldwide Developer Conference (WWDC). Among others, the Pay Later feature in its Apple Wallet app was the most talked-about service, which propels Apple's entry into the world of finance, and comes with iOS16. The service has been launched in the US for now but Apple may be eying a global foray to tap into the thriving buy now pay later industry.

Apple Pay Later provides users with a way to split the cost of an Apple Pay purchase into four equal payments spread over six weeks, with zero interest and no fees of any kind.

With Pay Later features, users can view, track, and repay payments of Apple products within its Wallet. Users can apply for a pay later option during checking out or in Wallet. The feature is available everywhere Apple Pay is accepted online or in-app, using the Mastercard network.

With this announcement, Apple wants its customers to buy products using Apple Pay. The strategy, considering the enormous user base of Apple, could give platforms like Affirm or Klarna or Block (formerly known as Square) a run for their money if it becomes successful in attracting customers.

Besides, Apple also previewed iOS 16, its biggest update ever to the Lock Screen. With this, users can personalise their Lock Screen, keep family photos in the iCloud shared photo library, recall sent messages, schedule mail, and discover more with live text and visual look up. “iOS 16 is a big release with updates that will change the way you experience iPhone,” says Craig Federighi, Apple’s senior vice president of software engineering.

Another big feature that the company introduced is called Live Activities. It helps users track sports games, workouts, ride-share, or food delivery orders, right from the Lock Screen.

Notably, Apple is planning to come up with a new iPhone in a few months, so the new features give a sneak peek into what all may be included in Apple's upcoming flagship product.

Apple also unveiled a new feature, under which users can edit or recall recently sent messages, recover recently deleted messages, and mark conversations as unread so they can come back to them later.

Apple says the next generation of CarPlay will provide content for multiple screens within the vehicle, which will allow users to do things like controlling the radio or changing the climate directly through CarPlay. CarPlay will also render the speed, fuel level, and temperature on the instrument cluster.

The company has also unveiled new tools for mail. Now users can schedule emails ahead of time and can cancel delivery of a message before it reaches a recipient’s inbox. Mail detects if the user forgot to include an important part of their message, such as an attachment. Users also have the option to resurface a message at any date and time with a reminder later and follow up suggestions remind users to follow up on an email if they have not received a response.