Apple is still working on the ability to buy an iPhone through a subscription service
Bloomberg has claimed in the past that Apple wants to enable users to buy iPhones through a subscription service. While we were waiting for this service to arrive by the end of 2022, this did not happen, and now Bloomberg has announced in a new report that due to engineering delays, this service has not been introduced, but is still on the way.
Mark Gorman, Bloomberg reporter, at Your latest report He mentioned 4 fintech projects of Apple. Among these, 2 projects, namely Apple Card Saving Account and Apple Pay Later, have been publicly introduced, but the other two projects have not yet been introduced. These two services are Apple Pay Monthly Installments and iPhone hardware subscription service.
The iPhone subscription service was supposed to be offered in 2021
Gorman claimed in his report that Apple is looking for introduction iPhone subscription purchase service Along with the iPhone 13 series in 2021 or the iPhone 14 in 2022. But like other fintech projects of Apple, this service is struggling with technical and engineering problems, and because of this, it has a slow progress.
Despite the technical and engineering issues, Gorman says Apple is still working on the service and has not abandoned it. Buying an iPhone through a subscription service is different from other methods of buying an iPhone.
In the new service, the price of the iPhone is not charged to the user in 12 or 24 installments, but the user pays a certain monthly fee to Apple based on the iPhone model he wants, and until this fee is paid, he can use the Apple phone.
According to Bloomberg’s report, Apple’s fintech services are based on a platform developed by the company itself, and it is one of the big financial ambitions of the Cupertinos. With this platform, Apple will carry out its fintech projects completely in-house and will no longer depend on its partners for them.
Ultimately, Gorman says the delay in offering Apple’s fintech services is due to engineering challenges as well as work on the next-generation financial system that will support these services. While the Apple Pay Later service is expected to arrive in March or April, there is no information available about when other services, including the iPhone subscription service, will be available.