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Apple Pay Later is dead one year after launch

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Apple is revoking its buy-now-pay-later service, Apple Pay Later, just a year after its launch in the United States. The change will take effect on Monday, June 17, but existing users with open loans can still repay and manage them via the Apple Wallet app as usual until the dues are settled.

The service was announced at WWDC 2022, with a preview launching in March 2023 and general availability in the US in October. These loans were backed by Apple itself, with Goldman Sachs issuing Mastercard payment credentials used to complete the Apple Pay Later transactions.

Apple Pay later is being axed in favour of global pay later alternatives.

Instead, the iPhone maker is now considering new installment features that will be available in multiple countries worldwide.

The company confirmed its decision in a statement to 9to5Mac. It stated that “users across the globe will be able to access instalment loans offered through credit and debit cards, as well as lenders when checking out with Apple Pay.” The new solution will work in more places in collaboration with Apple Pay-enabled banks and lenders.

Users can access instalments from credit and debit cards with Apple Pay starting in Australia with ANZ, in Spain with CaixaBank, in the U.K. with HSBC and Monzo, and in the U.S. with Citi, Synchrony, and issuers with Fiserv. US-based users can also apply for loans directly through Affirm when they check out with Apple Pay.

The aforementioned features were announced at WWDC 2024 with the arrival of iOS 18. Additionally, Apple Pay provides more flexibility and choices for users, allowing them to view and redeem rewards and access loan and instalment offers available from Apple Pay-enabled banks. Issuers can choose to integrate the Apple Pay system in supported markets.

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Yadullah Abidi

Yadullah Abidi

Yadullah is a Computer Science graduate who writes/edits/shoots/codes all things cybersecurity, gaming, and tech hardware. When he's not, he streams himself racing virtual cars. He's been writing and reporting on tech and cybersecurity with websites like Candid.Technology and MakeUseOf since 2018. You can contact him here: