Apple is discontinuing Apple Pay Later

Apple ends Apple Pay Later, shifts to global installment loans via third-party lenders like Affirm - Photo by Christiann Koepke on UnSplash

Apple Pay will offer Buy Now, Pay Later options with other lenders

Just a year after jumping on the Buy Now, Pay Later (BNPL) bandwagon, Apple is jumping off. The company has confirmed it is ending Apple Pay Later, which was added to Apple Pay in 2023.

“Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay,” the company said in a statement to Tech Crunch. “With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S.”

Apple is dropping its proprietary financing platform and will instead provide access to third-party lenders, such as Affirm. Under Apple Pay Later, users could take out loans of $50 to $1,000, and then use that money when checking out with any online purchase that accepts Apple Pay. After approval, Pay Later showed up as a payment option when consumers were making online transactions. 

Starting this week, Apple Pay is no longer offering the Pay Later option. The company said those with current loans can continue to make payments and managing them using Apple Wallet.

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