From PC Mag: Apple Pay Later has been discontinued less than one year after its full US rollout, the company has confirmed.
“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,” an Apple spokesperson said in a statement. “With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the US.”
Apple Pay Later allowed users to make a purchase and pay for it over time across four smaller payments within a six-week span. The feature was first released to select users in March last year, and became fully available in the US in October.
Apple's website now reflects a statement that says it is no longer issuing new loans. Existing users with Apple Pay Later loans will still be able to pay off and manage their loans through Apple's Wallet app, however. The Pay Later loans were Apple's answer to "buy now, pay later" options from firms like Klarna.
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