Apple abandons its “Apple Pay Later” less than a year after its launch

Just A little on half A year Since he was fully released has all WE. clients, Apple East closing down It is Payment ready Apple Pay Later service. In A statement has 9to5Mac, THE business said clients will NOW instead see Payment loans "Free through credit And Speed cards, as GOOD as lenders » When verification outside.

Apple Pay Later First of all begin manufacturing It is path has "randomly selected" clients In THE WE In March 2023 After be announcement has WWDC A year Before. THE functionality existed directly In Apple Wallet, And However Apple said he allowed users has apply For A ready "with No impact has their credit," GOOD to print said ready And payment history "can be reported has credit offices And impact their credit" on purchase.

THE service follow up THE Apple Cards launch In 2019, which included A arrangement with Golden Man Sachs that Apple East apparently eager has get out of. Apple Pay Later was THE the company First of all attempt has handling It is financial services himself via THE Apple Funding SARL subsidiary company, And follow up In THE wake up of similar services as Klarna.

Buy NOW, pay later services to have has been called out In THE pass For hidden costs that could trap needy users In even more debt, which could to have influence Apple, with It is in general friendly face, In to go out THE sector.

"OUR to focus keep on going has be on provide OUR users with to access has easy, secure And private payment choice with Apple Pay, And This solution will enable We has bring flexible Payments has more users, In more places through THE world," Apples statement lit.

In addition has to access loans Since credit And Speed cards, Apple Pay will Also NOW allow to access has loans Since Klarna competitor Affirm, A recent Apple Blog bed. As Klarna, Affirm has Also confronted critical In THE pass, with reviews pointing out how high interest rates can to set down In wait behind THE services hip brand image.