Apple has announced the discontinuation of the Apple Pay Later service, a buy now, pay later installment plan that does not incur interest. Initially launched exclusively in the United States last year, this decision takes effect immediately. However, existing customers can continue to utilize the service through the Wallet app.
Apple states that the repayment plans within Apple Pay will now be simplified by enabling direct access to credit card or debit card installment plans through Apple Pay, catering to users worldwide. This feature is expected to be available within the current year.
Introduced at WWDC 2022, Apple Pay Later expanded to all users in the United States in October last year. Users can request installment payments ranging from $50 to $1,000, divided into 4 installments over a 6-week period, without any fees or interest charges.
TLDR: Apple discontinues Apple Pay Later, but offers enhanced installment payment options through Apple Pay, providing a user-friendly experience globally.
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