days later apple inc AAPL CEO Tim cook said the ‘buy now, pay later’ Service will “start soon” The tech giant has reportedly started contacting retail employees to offer them a trial.

What happened: Long-awaited internal testing of Apple’s Buy Now, Pay Later service has been extended to thousands of retail workers, reported Bloomberg citing some employees of the company. The service could soon receive a public release.

See also: How to buy Apple (AAPL) stock

Apple’s Buy Now, Pay Later service was previously rolled out to corporate employees.

Apple’s Buy Now, Pay Later platform allows consumers to split any Apple Pay purchase into four equal installments over a period of six weeks without incurring any additional interest or fees.

It will run on a new financial platform that the tech giant has developed explicitly for the tech giant’s internal initiatives, the report said.

Why it matters: Apple’s “buy now, pay later” was first announced in June 2022 and should be released in September as part of the iOS 16 release. However, due to some technical hurdles, it suffered several setbacks and was postponed until 2023.

The aforementioned service will allow Apple to secure loans and provide funds to consumers. It will also help the company enter the rapidly growing financial market.

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