Apple Pay Later Phased Out for Third-Party Loan Integration

Apple has decided to discontinue its Pay Later feature, which was exclusive to the U.S., two years after its announcement at WWDC. The decision comes as Apple plans to introduce installment loans offered through credit and debit cards, as well as lenders when checking out with Apple Pay. This new global installment loan offering will be accessible to users across the globe later this year.

The Pay Later feature, which officially launched in late March 2023, had a short lifespan. However, the move aligns with Apple’s announcement at WWDC 2024 that users would be able to access loans through the third-party app Affirm via Apple Pay. This provides users with additional payment choices, offering the ease, convenience, and security of Apple Pay alongside the features users love in Affirm — flexibility, transparency, and no late or hidden fees.

The installment feature from credit and debit cards with Apple Pay will roll out starting in Australia with ANZ; in Spain with CaixaBank; in the U.K. with HSBC and Monzo; and in the U.S. with Citi, Synchrony, and issuers with Fiserv. Users in the U.S. will also be able to apply for loans directly through Affirm when they check out with Apple Pay.

As of now, Pay Later is no longer offering new loans, though those with current loans through the service will still be able to pay for and manage them through Apple Wallet.

Read more: appleinsider.com