Apple Discontinuing Apple Pay Later, Just 8 Months After Rolling Out to Countries Other Than the U.S.
Apple, in a statement to 9to5Mac:
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.
This always seemed a like weird offering from Apple. Apple Pay Later did not charge interest, which is great, but it still seemed contrary to the spirit of helping people develop good financial habits.
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Apple, in a statement to 9to5Mac:
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.
This always seemed a like weird offering from Apple. Apple Pay Later did not charge interest, which is great, but it still seemed contrary to the spirit of helping people develop good financial habits.