Apple Inc. introduced installment payment plans for buyers of iPhones and MacBook laptops in China as it struggles to compete with low-cost devices in the world’s largest computer and mobile-phone market.

Payments on purchases costing from 300 yuan ($48) to 30,000 yuan made via the company’s Chinese website can be spread over as long as two years, according to the site. The plan, which requires a China Merchants Bank Co. credit card, has fees ranging from zero to 8.5 percent.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry