WeLab and Apple Authorized Resellers Launch "Subscribe+ for Apple Products"

The first program of this type in Asia

HONG KONG, Oct. 6, 2021 — WeLab, a leading fintech company in Asia, launches an innovative subscription program for purchasing Apple products with Apple authorized resellers – Subscribe+ for Apple Products. Customers can purchase Apple products through the subscription program using the newly launched WeLab Pay powered by WeLend platform^[1]. For as low as just HK$204 a month, customers can own the latest iPhone 13 (128GB storage), or HK$152 for a MacBook Air (256GB storage). WeLab is the first and only financial services provider in Asia offering this program for purchasing Apple products. FORTRESS is the first retail partner to offer this unique program seamlessly through its extensive network of over 70 physical branches^[2] as well as its online store in Hong Kong.

WeLab and Apple Authorized Resellers Launch “Subscribe+ for Apple Products”

Key features of the Subscribe+ for Apple Products program:

Guaranteed trade-in option upon end of term
Deduct trade-in value in advance, making monthly payments as low as $58/ month^[3] for a 10.2-inch iPad (64 GB storage), with no hidden fees and other upfront costs
Starting with 0% interest rate^[4]
Customers can continue to enjoy low monthly payments in future device upgrades

"The launch of WeLab Pay is our innovative adaptation of the popular subscription model, powered by WeLab’s technology tailored for customer preferences. In Hong Kong, consumers always look for more transparent and better payment options that meet their spending needs. With the launch of Subscribe+ for Apple Products in Hong Kong, WeLab offers customers, particularly the new generation of — Gen Zers and Millennials — with a game-changing way of purchasing Apple products with more flexibility in spending. The most unique part of this program is the innovative mechanism – by first deducting the high trade-in value of Apple Products^[5], before calculating the monthly payments, this delivers great value and making low monthly payments possible for customers. The trade-in value of the device can be carried forward for future Apple upgrades, effectively creating a perpetual discount to the device list price for so long as they remain customers of this program!" said Simon Loong, the Founder and Group CEO of WeLab.

"FORTRESS is committed to providing innovative O+O shopping experience to meet customers’ needs and stay up-to-date with their lifestyles and shopping behaviors. We are delighted to strengthen our partnership with WeLab, offering this first-to-market Subscribe+ for Apple Products program to our customers with a flexible and seamless integration of O+O shopping and payment experience. Customers can visit our FORTRESS stores and eShop to bring their favorite Apple products back home, school or office by signing up this plan to enjoy great convenience and payment flexibility. At the end of the plan period, customers can return their device to FORTRESS and renew with the latest models, or keep their device by paying the trade-in value," said Clarice Au, Managing Director of FORTRESS.

Signing up for the Subscribe+ for Apple Products online is quick and easy, through the WeLab Pay platform and will only take around 5 minutes at a point of sale. Customers can design their plans according to their needs and approved spending credit. For iPhone and Apple Watch, WeLab offers a subscription period of 24 months. For iPad and Mac, the subscription period is 36 months. At the end of the subscription period, customers can either renew the program and upgrade to a newer model by simply trading-in the device; keep their devices by paying off the trade-in value and the last monthly payment amount; or simply return their devices to the participating authorized Apple resellers with the trade-in value.

Please refer to the official website for more details and T&C’s – https://subscribe-plus-for-apple-products.welend.hk/en/.

About WeLab

WeLab, a leading fintech company in Asia, operates one of the first licensed digital banks in Asia – WeLab Bank, as well as multiple online financial services with leading positions in Hong Kong, Mainland China, and Indonesia, with close to 50 million individual users and over 700 enterprise customers. WeLab uses game-changing technology to help customers access credit, save money, and enjoy their financial journey.

Powered by proprietary risk management technology, patented privacy computing techniques, and advanced AI capabilities, WeLab offers mobile-based consumer financing solutions and digital banking services to retail individuals and technology solutions to enterprise customers.

WeLab operates in three markets under seven key brands, including WeLend, and WeLab Bank in Hong Kong, WeLab Digital, Taoxinji, Wallet Gugu, and Tianmian Tech in Mainland China and Maucash in Indonesia.

WeLab is backed by the most renowned investors including Allianz, China Construction Bank International, International Finance Corporation (a member of the World Bank Group), Malaysian sovereign wealth fund Khazanah Nasional Berhad, CK Hutchison’s TOM Group, and Sequoia Capital.

To learn more, please visit: www.welab.co, or follow WeLab on LinkedIn and Facebook.

For media enquiries:

Communications Team
Email: [email protected]

[1] The official name of WeLab Pay platform is "WeLab Pay powered by WeLend".

[2] The "Subscribe+ for Apple Products" program will be rolled out across FORTRESS stores progressively, starting with 22 designated stores in the first phase.

[3] For purchase of a 10.2-inch (64GB storage) iPad with the retail price of HK$2,599.

[4] Actual monthly payment is subject to the interest that may be payable under the program depending on your credit score.

[5] Eligibility of trade-in and the trade-in value will vary depending on actual condition and the extent of damage to the device(s).