NEW YORK (AP) — Apple Inc. plans to add several new features to Apple Pay and Apple Wallet later this year that will more deeply integrate financing, rewards, and buy now, pay later options into the iPhone.

The new features are part of Apple’s annual iOS update that will arrive in the fall, the company said. Apple revealed some of the features at its annual developer conference this week and released more details Tuesday.

The biggest change for consumers will be ability for banks to offer multiple forms of financing to customers within Apple Pay, as well as the ability pay with rewards points or programs through an iPhone or other Apple device. iPhone users currently can use credit or debit cards to fund Apple Pay purchases.

Apple will now give banks the ability to offer other forms of financing through the same credit cards, like buy now, pay later, monthly installment plans, or the use of reward points.

Buy now, pay later company Affirm will be integrated into Apple Pay, allowing customers to apply for an account with Affirm inside of Apple Pay. Shares of Affirm rose nearly 5% Tuesday on the news. Apple said that its own buy now, pay later service, known as Apple Pay Later, is not going anywhere and the other major buy now, pay later companies like Klarna will also be able to integrate into Apple Wallet.

Apple Pay has become a significant force in mobile and digital payments since it was rolled out nearly a decade ago, along with Apple Wallet. Nearly all banks and credit card companies have integrated their credit and debit cards with Apple Pay, mobile concert tickets are standard issue, and a handful of states are experimenting with issuing digital drivers’ licenses.

A limiting factor for Apple Pay has been that it was only on iOS devices, whichonly represents roughly a third of the smartphone market. But Apple said it will allow the use of Apple Pay on Windows computers and Google’s Chrome browser later this year. Those customers will be able to scan a code and approve an Apple Pay transaction on their phone.

Ken is a national writer on banking and consumer issues.

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