Apple Discontinuing Apple Pay Later

Apple is discontinuing Apple Pay Later, the buy now, pay later feature that it just launched last October. ‌Apple Pay‌ Later is being discontinued as of today, but people who have existing ‌Apple Pay‌ Later loans will be able to continue to pay them off and manage them through the Wallet app.

Apple Pay Later feature 1
Apple announced plans to end the feature in a statement provided to 9to5Mac, which also notes that customers will be able to access installment loans through their credit and debit cards with changes coming to ‌Apple Pay‌ this fall.

Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay. With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S. 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.

‌Apple Pay‌ Later officially launched in October and only in the United States, but it had been available in a testing capacity since March 2023. Available in the Wallet app, ‌Apple Pay‌ later allowed customers to split a purchase made with ‌Apple Pay‌ into four equal payments over a six week period, with no interest or fees. ‌Apple Pay‌ Later was available on purchases made on an iOS device using ‌Apple Pay‌, and was limited to merchandise priced between $75 and $1,000. Each purchase required a separate loan application and approval.

Apple did not provide insight into why it is discontinuing ‌Apple Pay‌ Later, but it is working to unravel its partnership with Goldman Sachs, the company that handles the Apple Card, the Apple Savings account, and ‌Apple Pay‌ Later. Nixing ‌Apple Pay‌ Later means that Apple does not need to worry about replacing that functionality with a future partner.

In iOS 18, Apple will let users access installment financing options from their bank when using ‌Apple Pay‌, which will replace the ‌Apple Pay‌ Later feature that Apple is eliminating. ‌Apple Pay‌ will also gain support for viewing rewards or points balances in Wallet and redeeming them with purchases.

Popular Stories

iPhone 16 Pro Sizes Feature

iPhone 16 Series Is Just Two Months Away: Everything We Know

Monday July 15, 2024 4:44 am PDT by
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple Watch Series 9

2024 Apple Watch Lineup: Key Changes We're Expecting

Tuesday July 16, 2024 7:59 am PDT by
Apple is seemingly planning a rework of the Apple Watch lineup for 2024, according to a range of reports from over the past year. Here's everything we know so far. Apple is expected to continue to offer three different Apple Watch models in five casing sizes, but the various display sizes will allegedly grow by up to 12% and the casings will get taller. Based on all of the latest rumors,...
iPhone 16 Pro Left Side Feature

iPhone 16 Pro Again Rumored to Come in New 'Rose' Color

Tuesday July 16, 2024 3:53 am PDT by
Apple's upcoming iPhone 16 Pro and iPhone 16 Pro Max will be available in a new "Rose" color, claims a rumor out of China, corroborating previous claims. Chinese Weibo-based leaker OvO Baby Sauce OvO, a relatively new source of supply chain leaks, said on Tuesday that the new color code for the iPhone 16 Pro models is simply "Rose," not the previous "Rose Gold" color that Apple first offered ...
New MacBook Pros Launching Tomorrow With These 4 New Features 2

M5 MacBook Models to Use New Compact Camera Module in 2025

Wednesday July 17, 2024 2:58 am PDT by
Apple in 2025 will take on a new compact camera module (CCM) supplier for future MacBook models powered by its next-generation M5 chip, according to Apple analyst Ming-Chi Kuo. Writing in his latest investor note on unny-opticals-2025-business-momentum-to-benefit-509819818c2a">Medium, Kuo said Apple will turn to Sunny Optical for the CCM in its M5 MacBooks. The Chinese optical lens company...
tinypod apple watch

TinyPod Turns Your Apple Watch Into an iPod

Wednesday July 17, 2024 3:18 pm PDT by
If you have an old Apple Watch and you're not sure what to do with it, a new product called TinyPod might be the answer. Priced at $79, the TinyPod is a silicone case with a built-in scroll wheel that houses the Apple Watch chassis. When an Apple Watch is placed inside the TinyPod, the click wheel on the case is able to be used to scroll through the Apple Watch interface. The feature works...
macbook pro january

Best Buy's Black Friday in July Sale Takes Up to $700 Off M3 MacBook Pro for Members

Monday July 15, 2024 11:05 am PDT by
Best Buy's "Black Friday in July" sale is in full swing today, and in addition to a few iPad Air discounts we shared earlier, there are also some steep markdowns on the M3 MacBook Pro. You will need a My Best Buy Plus or Total membership in order to get some of these deals. Note: MacRumors is an affiliate partner with Best Buy. When you click a link and make a purchase, we may receive a small...

Top Rated Comments

sniffies Avatar
4 weeks ago
Woah, how am I supposed to finance Apple Polishing Cloth now?
Score: 43 Votes (Like | Disagree)
cjsuk Avatar
4 weeks ago
This is a good thing. Being a loan shark doesn't fit with their corporate branding really.
Score: 35 Votes (Like | Disagree)
Dulcimer Avatar
4 weeks ago
We live in a society

Attachment Image
Score: 30 Votes (Like | Disagree)
sw1tcher Avatar
4 weeks ago
Apple is discontinuing Apple Pay Later, the buy now, pay later feature that it just launched last October.

Apple did not provide insight into why it is discontinuing Apple Pay Later, but it is working to unravel its partnership with Goldman Sachs, the company that handles the Apple Card, the Apple Savings account, and Apple Pay Later. Nixing Apple Pay Later means that Apple does not need to worry about replacing that functionality with a future partner.
Probably has to do with Apple's new partnership with Affirm they announced last week

https://www.cnbc.com/2024/06/11/apple-pay-affirm-buy-now-pay-later-loans.html

* Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.
* Affirm will surface as an option for Apple Pay users on iPhones and iPads later this year.
* Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.


https://www.apple.com/newsroom/2024/06/new-features-come-to-apple-services-this-fall/

The ability to redeem rewards for a purchase with Apple Pay will be available beginning in the U.S. with Discover and Synchrony, and across Apple Pay issuers with Fiserv. The ability to access installments from credit and debit cards with Apple Pay will roll out 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. Users in the U.S. will also be able to apply for loans directly through Affirm when they check out with Apple Pay.


Article title should be Apple Discontinuing Apple Pay Later, Replacing It With Affirm
Score: 29 Votes (Like | Disagree)
itsboi Avatar
4 weeks ago
Very Google of them to axe this so fast.
Score: 27 Votes (Like | Disagree)
seek3r Avatar
4 weeks ago
I had to do a reread on the headline, I thought for a moment this was saying something like “later [in the year] apple will be discontinuing apple pay” and was sitting there going “wut??”
Score: 27 Votes (Like | Disagree)