It was announced by Apple today that the company is eliminating and getting rid of support for Apple Pay Later.
Apple Pay Later was a system and payment method in place where the logic behind it was “buy now, pay later.” It was originally launched last year in the U.S.
It enabled users to pay loans over the course of six weeks with four adequate payments, and had no interest or fees.
Starting today, Apple Pay Later is no longer supported by Apple and those that still have loans going through it will still be able to maintain and manage them through the Wallet app.
This is a statement provided to 9to5Mac regarding Apple Pay Later and its discontinuation:
“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. 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.”
Apple has also said that it is planning on launching new features at the global level for Apple Pay later this year, which does include being able to redeem rewards with Apple Pay purchases for those on the Discover and Synchrony cards in the U.S.
What are your thoughts on Apple getting rid of support for Apple Pay Later? Comment below or let us know on X at @appleosophy.
