Apple Pay Later is more about making Apple Pay more convenient than trying to dominate the 'buy now, pay later' arena, analysts say

• Apple has announced a "buy now, pay later" service offering short loans of between $50 and $1,000.
• Apple Pay Later could help increase demand for iPhones, one analyst said. 
• Starting in the US will allow Apple to make adjustments if needed for other markets, another said.

Apple is jumping on the "buy now, pay later" bandwagon, following in the footsteps of companies including Klarna and PayPal. 

The iPhone maker announced late last month that Apple Pay users based in the US would now be able to split purchases of between $50 and $1,000 into four payments with no interest and no fees.