Apple discontinues buy now, pay later service in United States

Apple said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan program.

Apple store

Users will be able to access installment loans offered through credit, debit cards and lenders when checking out with Apple Pay, starting later this year.

“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 said.

The existing users of the BNPL service, Apple Pay Later, with open loans will still be able to manage and pay them via the Wallet app.

The iPhone maker launched Apple Pay Later to select users in March last year, allowing users to split purchases into four payments spread over six weeks with no interest or fees.

Market research company IDC says Apple will experience 0.7 percent growth in iPhone sales (iOS) in 2024.


More like this

Samsung dropped to third in India smartphone market

The latest Canalys research report has revealed two interesting...

UK regulators probe Big Tech’s growing influence in digital payment

British regulators are investigating the increasing use of digital...

Apple sale in India reaches $8 bn in 2023-24 fiscal

Apple has generated sales of almost $8 billion in...

Smartphone market growth and leading vendors in second-quarter

IDC and Canalys have shared the growth trends in...