In preparation for the integration of Affirm, the company announced on Monday that it will no longer be accepting new loan applications.
This is the end of Apple Pay Later. Only two years after the initial announcement of the service at WWDC 2022, and only seven months after it became available to everyone in the United States, the company has announced to TechCrunch on Monday that it will be discontinuing the service.
Due to the fact that loans through third-party provider Affirm are going to be available through Apple Pay later this year, the two would have been redundant if the business had not announced this information at its developer conference last week. Following its keynote presentation at the World Wide Developers Conference (WWDC), the company said in a press post that “users in the United States will also be able to apply for loans directly through Affirm when they check out with Apple Pay.”
The Pay Later option has already been removed from the list of available options when using Apple Pay to complete a purchase, and the company has stated that it will no longer take any new loans going ahead. such who are currently enrolled in payment plans, on the other hand, can still access such plans through the Wallet app.
Apple noted in a statement to TechCrunch that “beginning 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.” This information was provided in response to a question and answer session. As a result of the launch of this new worldwide installment loan service, Apple Pay Later will no longer be available in the United States.