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Apple Ends Apple Pay Later Service Amidst Growing Competition
2024-06-18 09:01:25

Apple Ends Apple Pay Later Service Amidst Growing Competition

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Apple has discontinued its Apple Pay Later installment payment service just over a year after its launch, aiming to shift the responsibility to banks. The move comes as Apple faced increasing competition in the buy now, pay later sector, notably from Klarna.

Customers are now anticipated to see the introduction of installment payment options globally by the year's end, as Apple transitions away from its prior payment model.

The press radar on this topic:

The Verge
17. Juni 2024 um 18:54

Apple is shutting down Apple Pay Later just months after launch

Economy
Technology
Finance
Apple is discontinuing its buy now, pay later service called Apple Pay Later, which allowed users to take out loans payable in four payments over six weeks. The service was fully launched in the US in October 2023 but is now being replaced by installment loans from credit cards, debit cards, and lenders when checking out with Apple Pay.
EL PAÍS
17. Juni 2024 um 22:57

Apple withdraws from loans by cancelling its interest-free deferred payment service

Finance
Technology
Economy
Apple has canceled its interest-free deferred payment service, Apple Pay Later, and has decided to refer purchase options to financial firms. The company launched this offer in March 2023, allowing users to split purchases into four interest-free and commission-free payments. Starting at the end of this year, Apple will integrate third-party financial services into its iOS 18 operating system.
heise online
18. Juni 2024 um 07:50

Apple shuts down Later-Pay service | heise online

Economy
Technology
Apple has decided to discontinue its installment payment service Apple Pay Later. The service was introduced just over a year ago and was intended to compete with Klarna. Apple now wants banks to offer such installment payment services themselves. It is expected that installment payment loans will be introduced worldwide by the end of the year.
heise online
18. Juni 2024 um 07:50

Apple shuts down Later-Pay service | heise online

Economy
Technology
Apple has decided to discontinue its installment payment service Apple Pay Later. The service was introduced just over a year ago and was intended to compete with Klarna. Apple now wants banks to offer such installment payment services themselves. It is expected that installment payment loans will be introduced worldwide by the end of the year.
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