In Apple's Q4 earnings call, CEO Tim Cook announced that later this year you will be able to buy an iPhone on an Apple card, pay for it over 24 months at zero interest rates, get 3 percent cash back on purchases, and Manage payments in the Wallet app with one drop.
Apple already offers a number of ways to fund the cost of the iPhone, such as the iPhone upgrade program, and it seems that only the "managing payments in the Wallet app" section is really new. Apple already offers Apple Card holders 3% cash back when they buy in stores, and lets you pay for phones in 24 installments, while you get the money back if you make these payments ̵
With a timeline "later this year" for the new installment plan, it seems possible that this benefit will be launched sometime before the holiday season.
Apple Card users can also get 3 percent cash back at T-Mobile, Walgreens and Uber.