Reported 8 months ago
Apple announced on Monday that it has discontinued offering new loans through the 'Buy Now, Pay Later' (BNPL) program, which was introduced in the US last year. The company will now shift towards new installment payment services provided by third-party credit and financial card issuers. This move marks a retreat from Apple's ambitions to compete with traditional financial service providers. Apple stated that users with outstanding loans will still be able to manage and pay them using the Apple Pay Later feature. The company believes not every new financial technology feature or product it launches will be successful or align with its overall strategy.
Source: YAHOO