Apple Pay Later Discontinued, Affirm Integration to Follow
In a surprising turn of events, Apple has announced that it will be discontinuing its Apple Pay Later service. The service, which was introduced just two years ago, has been shelved only seven months after becoming available to all users in the U.S.
End of an Era for Apple Pay Later
Apple's decision to end the Pay Later service comes after the announcement at its developer conference last week, which revealed that loans through the third-party service Affirm would be integrated into Apple Pay. This new feature is set to roll out later this year, making the Pay Later service redundant.
Those currently using the Pay Later service need not worry, however. Apple has confirmed that existing payment plans will remain accessible through the Wallet app even though the service will no longer accept new loans.
What's Next for Apple Pay Users?
Apple Pay users can look forward to accessing installment loans directly through debit and credit cards and various lenders when checking out with Apple Pay. This global installment loan offering is a part of Apple's effort to streamline its services and provide more comprehensive solutions to its users.
This move is seen as an effort to consolidate Apple's financial services, offering a more global solution that will make checking out with Apple Pay an even more seamless experience.
With installment loans becoming increasingly popular, Apple's integration of Affirm loans is poised to be a game-changer in the way customers engage with the brand's financial services.
