London (CNN Business) Apple has teamed up with mobile payment company Alipay to offer Chinese consumers interest-free financing on iPhones. The move could help revive Apple's slowing sales in the country.

The offer allows shoppers in China to pay for an iPhone in installments over 24 months. They can avoid interest payments on loans used to purchase Apple products that cost over 4,000 yuan ($595).

Alipay, which is owned by Ant Financial, is the payment platform of choice for hundreds of millions of Chinese shoppers. The financing is made through Alipay's lending service, Huabei, which translates to "just spend."

The same terms are available through credit cards issued by three Chinese banks, according to Apple's website. The offers run through March 25.

When combined with additional discounts for customers who are trading in an older phone, the offer means that shoppers can get their hands on Apple's iPhone XR for just 183 yuan ($27.25) a month.

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