Apple is killing off the Apple Pay Later service, but there’s another option in the works

Apple pays later

Maria Diaz/ZDNET

If you’ve been using Apple Pay Later to pay for purchases in installments, bid that service a fond farewell. IN Updated support pageApple announced that “Apple Pay is no longer offering new loans for Apple Pay purchases.”

Apple launched Apple pays later in October 2023 to allow users to finance purchases through monthly payments. Through the service, you can request a loan amount of $50 to $1,000 to pay for your purchase. With the loan amount divided into four six-week payments, you’ll make the first payment at checkout, with the remaining three payments charged to your debit card every two weeks. The main benefit is that your Apple Pay Later loan is interest-free.

Also: How to use Apple Pay in stores and online

Even though Apple is discontinuing the service, you can still pay off your loans as is:

  • If you have an existing loan, continue making each payment according to the due date. If your loan is set to autopay, Apple will automatically charge the debit card you used for all future payments.
  • If you purchase an item that has not yet been delivered, your first payment will be debited after the retailer processes your order. You’ll then make the remaining three payments every two weeks.
  • If you’ve returned an item or are waiting for a refund, the retailer will notify Apple Pay Later, which will then apply the refund to any payment you owe.

On its support page, Apple did not disclose the reason for discontinuing the use of Apple Pay Later. in one statement sent to 9to5MacHowever, the company has introduced an alternative option that will launch in late 2024, which could align with the fall release of iOS 18 and iPadOS 18.

“Starting later this year, users globally will be able to access installment loans offered through credit and debit cards and lenders when paying with Apple Pay,” Apple said. know in his statement.

“With the introduction of this new global installment lending service, we will no longer offer Apple Pay Later in the US,” the company explained. “Our focus continues to be on providing users access to easy, secure and private payment options with Apple Pay, and this solution will enable us to deliver flexible payments.” Available to more users, in more places around the globe, working with Apple Pay.” allowing banks and lenders.”

At last week’s WWDC 2024 conference, Apple revealed more details about its upcoming installment payment option.

“Apple Pay brings even more flexibility and choice to users when they pay online and in apps,” the company said in a statement. a press release. “Users can view and redeem rewards and access installment loan offerings from eligible credit or debit cards when making purchases online or in-app with iPhone and iPad. These features will be available to any Apple Pay-enabled bank or issuer with integration in supported markets.”

Also: iOS 18 will let you use Apple Pay on any browser on any PC

Apple plans to roll out the installment option to several countries, including Australia with ANZ (Australia and New Zealand Banking Group), Spain with CaixaBank, and the UK with HSBC and Monzo. In the US, people will be able to apply for loans through Citi and Synchrony, as well as with banks and credit unions that use Fiserv. US consumers who pay with Apple Pay will also be able to request loans directly through a “buy now, pay later” service. Confirm.

According to Apple’s description, the new installment plans offer several benefits compared to Apple Pay Later. First, you’ll be able to use a credit or debit card to pay for your purchases (Apple Pay Later is limited to debit cards only). Second, the installment payment option will be available globally, while Apple Pay Later is only available in the US.


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