Cook announced that consumers will be able to use Apple Card to pay for iPhones over a 24-month span, which could lead to greater adoption of Apple Pay.
The offering, which will be available later this year, will allow cardholders to pay for an iPhone over 24 months with zero interest, receive 3% cash back for their purchase — matching Apple Card's offering of 3% cash back on purchases from Apple — and manage their payments via the Wallet app on their iPhone. This could boost iPhone sales and also entice consumers to use Apple Card since it offers a potentially more affordable way to purchase an iPhone that also offers cash back.
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