Honolulu Star-Advertiser

Thursday, July 11, 2024 80° Today's Paper


Top News

Apple to discontinue ‘buy now, pay later’ service in U.S.

REUTERS/DADO RUVIC/ILLUSTRATION/FILE PHOTO
                                The Apple Pay logo is seen in this illustration, in May 2023. Apple today said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan program.
1/1
Swipe or click to see more

REUTERS/DADO RUVIC/ILLUSTRATION/FILE PHOTO

The Apple Pay logo is seen in this illustration, in May 2023. Apple today said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan program.

Apple today said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan program.

Users will be able to access installment loans offered through credit, debit cards and lenders when checking out with Apple Pay, starting later this year, the company said in a statement.

“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,” the company said.

The existing users of the BNPL service, Apple Pay Later, with open loans will still be able to manage and pay them via the Wallet app, the company said.

Apple Pay Later was unveiled to select users in March last year, allowing users to split purchases into four payments spread over six weeks with no interest or fees.

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines. Having trouble with comments? Learn more here.