Apple Bids Farewell to Apple Pay Later One Year Post-Launch

Apple has discontinued its 'buy now, pay later' service, Apple Pay Later, just a year after its launch. This move recognizes the dominance of established companies like Affirm and Klarna in the industry. Apple will now focus on integrating Affirm into Apple Wallet to offer flexible payments globally.

Apple is pulling the plug on its 'buy now, pay later' service, Apple Pay Later, barely a year after its debut in the U.S. This strategic shift acknowledges the high level of competition in the financial services sector, dominated by companies such as Affirm and Klarna.

Launched in March 2023, Apple Pay Later aimed to allow iPhone users to split purchases of up to $1,000 into four equal, interest-free payments. Despite its initial hype, the service faced integration challenges, as it was only available where Apple Pay was accepted.

In a recent developer's conference, Apple revealed plans to allow banks to offer 'buy now, pay later' plans through Apple Pay and Apple Wallet, integrating Affirm directly into Apple Wallet. This new strategy focuses on providing secure and flexible payment options, extending beyond U.S. borders.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)