Apple Did a Google: Discontinues Apple Pay Later Within 10 Months of Launch

Apple Pay Later Service Delayed

Apple made a move that is reminiscent of Google’s graveyard of short-lived projects. There are countless examples, but I’ll list a couple: Stadia and Google VPN, which are now exclusive to Google Pixels and discontinued for iPhones and other Androids. Apple has abruptly discontinued its buy now, pay later service, Apple Pay Later. Launched last October in the U.S., the feature allowed users to split purchases into installments with no interest or fees, like no-cost EMIs.

However, just ten months later, Apple is pulling the plug. The good news for current users is that existing Apple Pay Later loans will be unaffected, and users can continue to manage them through the Wallet app. However, the option is no longer available for new purchases.

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.”

Mark Gurman

Although Apple hasn’t provided a clear explanation for the shutdown, it has announced plans for a more comprehensive installment loan offering within Apple Pay, which now has new fluidic animation, unveiled at WWDC ’24. This new feature, expected later this year, will integrate with partnered banks and lenders and offer wider global availability compared to the US-centric Apple Pay Later.

Previously, it required a separate loan application for each purchase. But now, this new program could also facilitate the loan process by using existing bank relationships. This comes after the rumours that Apple Pay might be able to work even on Androids, in a way.

Looking ahead, Apple Pay users can expect a more comprehensive installment loan experience through partnerships with established financial institutions.

This could benefit more users in a wider range of locations, with rumors of Apple Pay arriving in India earlier this year spreading online. Whether this new approach proves more successful than Pay Later remains to be seen.

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