Apple to introduce installment plan for iPads, Macs on Apple Card

Technology giant Apple is aiming to launch monthly installments service in the coming weeks

Apple Inc. is planning to introduce installments via Apple Card credit card for many of its products, including iPads, Macs and AirPods.

California-based technology giant is aiming to launch the service in coming weeks, reported Bloomberg. The plan will let customers buy a product through Apple and distribute the cost over interest-free monthly payments.

"With Apple Card, we completely reinvented the credit card. Your information lives on your iPhone, beautifully laid out and easy to understand. We eliminated fees and built tools to help you pay less interest," said Apple on their website.

The service is an incentive to enroll for the Apple Card, a joint effort with Goldman Sachs Group Inc., and increase sales of Apple products.

Apple Chief Executive Officer Tim Cook said on the company’s second-quarter earnings call that Apple would launch an installment program for products beyond the iPhone, however no timings or features were specified.

The Apple Card, launched in August, is Goldman’s first credit card. The Wall Street investment bank has been offering more products to consumers, including personal loans and savings accounts through its Marcus online bank.

This article originally appeared on Bloomberg.