Apple has announced that it is no longer offering Apple Pay Later, the “buy now, pay later” service that launched in the United States last year, reports 9to5Mac.
The change goes into effect starting today. Existing users with open Apple Pay Later loans will still be able to manage them via the Wallet app. Apple told 9to5Mac that, in Apple Pay Laters place, the company is focusing on new features coming globally to Apple Pay later this year, including the ability to access installment loan offerings from eligible credit or debit cards, as well as Affirm.
Here’s how Apple described Apple Pay Later when it debuted March 28, 2023: Apple today introduced Apple Pay Later in the U.S. Designed with users’ financial health in mind, Apple Pay Later1 allows users to split purchases into four payments, spread over six weeks with no interest and no fees. Users can easily track, manage, and repay their Apple Pay Later loans in one convenient location in Apple Wallet. Users can apply for Apple Pay Later loans of $50 to $1,000, which can be used for online and in-app purchases made on iPhone and iPad with merchants that accept Apple Pay.3 Starting today, Apple will begin inviting select users to access a prerelease version of Apple Pay Later, with plans to offer it to all eligible users in the coming months.
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