Apple ends its U.S.-only Pay Later feature, launched in March 2023, to integrate Affirm for global installment loans. New loans through Pay Later stopped as of Monday, but existing loans remain manageable via Apple Wallet.
Apple's Pay Later feature, introduced in March 2023, has been discontinued after just over a year. Announced at WWDC 2022, Pay Later allowed U.S. users to make installment payments. However, as of Monday, new loans are no longer available, although existing loans can still be managed through Apple Wallet.
Apple is shifting focus to a global installment loan service in collaboration with Affirm. Users worldwide will soon access installment loans via credit and debit cards and lenders when using Apple Pay. The new feature starts in Australia, Spain, the U.K., and the U.S., with partners like ANZ, CaixaBank, HSBC, Monzo, Citi, and Synchrony.
Apple announced the partnership with Affirm at WWDC 2024. Affirm emphasized the benefits, stating, "This provides users with additional payment choices, and offers the ease, convenience, and security of Apple Pay alongside the features users love in Affirm — flexibility, transparency, and no late or hidden fees." This integration aims to offer a seamless and flexible payment experience globally.
By discontinuing Pay Later, Apple aims to streamline its payment services and expand its global reach. The move reflects a broader strategy to collaborate with established financial services to provide diverse payment options. As Apple Pay continues to grow, users can expect more flexible and secure payment methods to emerge, enhancing the overall user experience.
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