Apple is shutting down Apple Pay Later just months after launch

Jun 18, 2024 01:54 AM - 4 months ago 53426

Apple is shutting down Apple Pay Later, its bargain now, salary later service, nan institution confirmed to 9to5Mac. The service, which lets you return retired “pay later” loans that tin beryllium paid successful 4 payments complete six weeks, only launched afloat successful nan US in October 2023. In its place, Apple says that users will beryllium capable to use for “installment loans” from in installments cards, debit cards, and lenders erstwhile checking retired pinch Apple Pay later this year.

Here is Apple’s afloat unsigned statement, which was fixed to 9to5Mac:

Starting later this year, users crossed nan globe will beryllium capable to entree installment loans offered done in installments and debit cards, arsenic good arsenic lenders, erstwhile checking retired pinch Apple Pay. With nan preamble of this caller world installment indebtedness offering, we will nary longer connection Apple Pay Later successful nan U.S. Our attraction continues to beryllium connected providing our users pinch entree to easy, unafraid and backstage costs options pinch Apple Pay, and this solution will alteration america to bring elastic payments to much users, successful much places crossed nan globe, successful collaboration pinch Apple Pay enabled banks and lenders.

Apple didn’t instantly reply to a petition for remark from The Verge.

Apple Pay Later was primitively announced alongside iOS 16, but it wasn’t portion of nan first iOS 16 release. The institution rolled retired successful early entree invitations to “randomly selected users” in March 2023 earlier yet launching nan work wide successful nan US successful October.

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