In an end goal to make Apple products more affordable to Chinese consumers, Apple is working with Chinese mobile payments network Alipay to offer up to two years of interest-free financing, The Wall Street Journal first reported.





The organizations purportedly informed clients regarding the new getting alternative this week, which requires a base buy of 4,000 yuan ($595) to qualify, the Journal revealed. This would enable more customers to purchase the organization's most recent iPhone models, including the XR, which is the most affordable choice in Apple's new lineup at 6,499 yuan, according to Apple's China website.





Sales growth in China has been a worry for Apple investors since CEO Tim Cook cautioned in January of economic pressures in the region and slowing iPhone sales. In its first-quarter 2019 profit, Apple announced an about $5 billion drop in revenue from China compared and the earlier year, to $13.17 billion amid the December quarter.





"If you look at our outcomes, our shortfall is more than 100 percent from iPhone and it's essentially in greater China," Cook told in an interview after Apple's revised guidance declaration in January. "It's clear that the economy started to moderate there for the second half and what I believe to be the situation is the exchange strains between the United States and China put additional pressure on their economy."





Cook had also talked in the meeting about adding payments to dull the sting of its high sticker prices. In any case, Apple's choice to work with Alipay to offer the financing is an interesting decision since its own digital wallet service, Apple Pay, has failed to gain much market share in the region, as per the Journal, which detailed that Alipay has in excess of 700 million active users in the region.





Huabei, the Alipay service that will finance Apple purchases, acts like a virtual credit card that Apple would almost certainly pay for upfront with a small percentage of a product's value, as per the Journal. While Alipay previously offered interest-free financing for one year on Apple products, the new two year offer will be accessible until March 25, the Journal reported.



