Apple Pay Later, Apple will now lend money directly to users through the Wallet app on devices like the iPhone. Apple Pay Later builds on Apple's existing relationship with Mastercard and Goldman Sachs; the service is "enabled through the Mastercard Installments program," which Apple says allows the service to work immediately with merchants that already accept Apple Pay. That said, Apple formed a subsidiary to finance Apple Pay Later loans—something it didn't do with Apple Card or Apple Pay before