Apple Discontinuing Apple Pay Later, How It Affects You

Apple has made the decision to discontinue Apple Pay Later, a payment option that allowed users to split purchases into four interest-free payments. This change affects anyone who has been using Apple Pay Later to make purchases.

The discontinuation of Apple Pay Later is likely to impact users who relied on the feature for making large or unexpected purchases. Apple Pay Later was designed to provide users with more flexibility and control over their payments.

If you were using Apple Pay Later, you can no longer make new purchases using this feature. However, you can still use Apple Pay to make regular purchases, such as buying groceries or paying for a coffee.

Apple is discontinuing Apple Pay Later, a feature that was launched just last October. This means that users will no longer be able to split purchases into four equal payments over a six-week period with no interest or fees.

The discontinuation of Apple Pay Later is happening as of today, but people with existing loans will still be able to continue paying them off and manage them through the Wallet app. This is a relief for those who had already taken advantage of the service.

Apple announced plans to end Apple Pay Later in a statement, noting that customers will be able to access installment loans through their credit and debit cards with changes coming to Apple Pay this fall.

Apple is discontinuing Apple Pay Later, the buy now, pay later feature that launched last October. This means that users will no longer be able to split purchases into four equal payments over a six week period with no interest or fees.

Existing Apple Pay Later loans will still be accessible through the Wallet app, allowing users to continue paying them off and manage them as usual. However, new loans will not be available through Apple Pay Later.

The discontinuation of Apple Pay Later is part of a larger plan to integrate installment loans through credit and debit cards, set to roll out later this year. This change will enable users to access installment financing options directly from their bank when using Apple Pay.

Apple is discontinuing Apple Pay Later, and it's not clear why. Apple didn't provide insight into the reason behind this decision.

The company is working to unravel its partnership with Goldman Sachs, which handles the Apple Card, Apple Savings account, and Apple Pay Later. This partnership is likely a key factor in the discontinuation of Apple Pay Later.

By ending Apple Pay Later, Apple avoids the need to replace this functionality with a future partner. This move will simplify the company's operations and reduce its reliance on partnerships.

The discontinuation of Apple Pay Later means users will no longer be able to split purchases into four equal payments over a six-week period with no interest or fees.

Apple Pay Later's shutdown will likely impact users who have already made purchases or have outstanding balances. Many users had taken advantage of the service's interest-free payment plans, which allowed them to pay for purchases over time without incurring interest charges.

As of now, users who have outstanding balances will need to make arrangements to pay off their balances within the remaining time frames, which vary from 4 to 6 weeks. This means users will have to come up with the full amount or make alternative payment plans to avoid late fees.

For users who have already paid off their balances, the shutdown won't have a direct impact. However, they may still be affected if they had relied on Apple Pay Later for future purchases or had integrated it into their budgeting and financial planning.

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