Apple shutting down Pay Later, its Affirm rival, after one year


The iPhone maker took the step after announcing that third-party services would be integrated into its upcoming iOS 18 software. — Bloomberg

NEW YORK: Apple Inc is shutting down its Pay Later programme, which let customers make purchases on an installment plan, marking a retreat from efforts to offer more financial services in-house.

The company said on Monday that it’s no longer offering loans for Apple Pay Later, which allowed users to pay off purchases of as much as US$1,000 over four installments.

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