Apple to stop offering Apple Pay Later, 9to5Mac reports

Apple (AAPL) will no longer offer Apple Pay Later, its “buy now, pay later” service that rolled out in the U.S. last year, 9to5Mac’s Chance Miller reports. In a statement to 9to5Mac, the tech giant noted that the change will become effective beginning Monday, with existing users still able to manage loans via the Wallet app. In its place, the company will focus on new features coming globally to Apple Pay later in 2024, including the ability to access installment loan offerings from eligible debit or credit cards, as well as Affirm (AFRM), the author notes. “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,” Apple said in a statement. “With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S. Our focus continues to be on providing our users with access to easy, secure and private payment options with Apple Pay, and this solution will enable us to bring flexible payments to more users, in more places across the globe, in collaboration with Apple Pay enabled banks and lenders.”