Reported 8 months ago
Apple has decided to discontinue its buy now, pay later service known as Apple Pay Later, which was launched in the U.S. barely a year ago. Instead, Apple plans to collaborate with industry giants like Affirm and Klarna, admitting the difficulty of building a financial services business from scratch. Apple Pay Later allowed customers to split purchases into four equal payments with no fees or interest, but its availability was limited compared to other buy now, pay later services. Apple now aims to allow banks to offer buy now, pay later plans through Apple Pay and Apple Wallet, integrating Affirm directly into Apple Wallet for more flexibility globally.
Source: YAHOO