Apple Ends Apple Pay Later Ahead of New Features Launch Apple has discontinued its “buy now, pay later” service, Apple Pay Later, in the U.S., shifting focus to global installment loan features set to launch this fall.

Apple has decided to cease offering Apple Pay Later, effective immediately. This service, which allowed U.S. users to split purchases into four payments over six weeks without fees or interest, will no longer be available to new users. Existing users can still manage their current loans through the Wallet app.

In its place, Apple is introducing new global features to Apple Pay. Starting later this year, users worldwide will be able to access installment loans via eligible credit or debit cards, as well as through the lender Affirm.

These new features will enhance the flexibility and reach of Apple Pay, providing users with more payment options.

Apple’s official statement elaborates on the transition: “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.

Apple Pay NFC terminal transaction

“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.”

Apple Pay Later, introduced at the 2022 Worldwide Developers Conference (WWDC) and available in the U.S. since March 2023, allowed users to apply for loans between $50 and $1,000 during the checkout process. Despite its brief run, the service is now being phased out in favor of a broader, more integrated installment plan system.

The upcoming features will debut in several countries. Australian users will see the rollout with ANZ, Spanish users with CaixaBank, U.K. users with HSBC and Monzo, and U.S. users with Citi and Synchrony. Additionally, U.S. users will have the option to apply for loans directly through Affirm when using Apple Pay. This expanded service aims to offer a more seamless and versatile payment experience.

Apple has emphasized that its new global installment loan features will provide greater flexibility and choice. Users will be able to view and redeem rewards and access installment loan options through their preferred credit or debit cards during online and in-app purchases on iPhones and iPads. This initiative is designed to be integrated by any Apple Pay-enabled bank or issuer in supported markets.

Previously, loans through Apple Pay Later were backed by Apple, with Goldman Sachs issuing the Mastercard credentials needed for purchases.

The new approach will see Apple collaborating with a wider range of financial partners globally, marking a significant shift in its strategy to enhance user payment experiences.


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