The Bank Slate


Apple abandons BNPL product Apple Pay Later

That didn’t last long.

Apple announced that it is abandoning Apple Pay Later roughly a year after introducing the program.

The company said in a statement that its customers using Apple Pay will be able to apply for installment loans through credit cards, debit cards and lenders later this year.

“With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S.,” the statement said.

“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,” the company added.

Apple Pay Later debuted in March 2023, allowing customers to divide their purchases of up to $1,000 over four interest-free installments. The balance was paid over a six-week period.

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