Apple scraps ‘buy now, pay later’ service just months after US rollout

Quick Summary:

Instalment loans will also be made available on Apple Pay in Australia with ANZ and Spain with CaixaBank.

Apple waded into BNPL at a time when US interest rates were low and consumers flocked into low-fee loans to fund their purchases.

Users with open loans through Apple Pay Later will continue to have access to features, but no new loans are being offered.

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Article Details

Author / Journalist: Joshua Franklin

Category: MarketsFinanceInvesting

Markets: United StatesAustraliaSpain

Topics: Apple Last Loans Instalment Service Affirm Access Users Services Tech Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-17 @ 20:30:49 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 583 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21289975

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 1 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 23 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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News Language: English

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Publisher ID: #3

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