American users of the Apple Pay wallet will be offered a buy now, pay later (BNPL) option from Apple for purchases made in-store and online of less than $1,000 at any merchant. Users can divide the purchase amount into four equal payments, which must be tied to a debit card. There are no fees or interest charges for the service. Buyers pay their first installment when they make the purchase, and the other three occur every two weeks after that. BNPL receivables will be carried on the balance sheet of the newly created subsidiary Apple Financing LLC, which doesn’t own a bank charter but...