Apple has announced to shut down its buy now, pay later (BNPL) service called \u2018Apple Pay Later\u2019 in the US. The service, which let users take out \u201cpay later\u201d loans that can be paid in four payments over six weeks, was launched in the US in October last year. “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,\u201d the tech giant told 9to5Mac website.<\/p>\n\n\n\n
With the introduction of this new global installment loan offering, \u201cwe will no longer offer Apple Pay Later in the US,\u201d said the company.<\/p>\n\n\n\n
Apple Pay Later was announced alongside iOS 16 release.<\/p>\n\n\n\n
\u201cOur 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,\u201d said the iPhone maker.<\/p>\n\n\n\n
According to a support document, \u201cApple Pay Later is no longer offering new loans\u201d but \u201cexisting Apple Pay Later loans and purchases are not affected.\u201d AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"
Apple has announced to shut down its buy now, pay later (BNPL) service called \u2018Apple Pay Later\u2019 in the US. The service, which let users take out \u201cpay later\u201d loans that can be paid in four payments over six weeks, was launched in the US in October last year. “Starting later this year, users across the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[87],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\n