
In a bid to replace its money-lending facility for e-payments with the introduction of a unique and seemingly more convenient substitute, Apple has decided to pull the plug on Apple Pay Later.
Although it appears to be a no-brainer discontinuation of a monetary service, Apple Pay Later was announced less than a year ago in the United States in October 2023.
Offered to a select user base in March 2023 to conduct inspection of its seamless functionality, the service allows users to get "pay later" loans that are payable within six weeks. The service was launched at the same time as that of Apple's iOS 16.
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Apple Pay Later not showing
As a replacement to Apple Pay Later, Apple says users later this year will be able to take "installment loans" from credit cards, debit cards and lenders when checking out with Apple Pay.
Citing an official statement available to its source, The Verge reported that by planning to roll out the alternate globally, Apple touts its diligent attitude towards ensuring a more convenient, easy to access, and secure private payment options with Apple Pay.
Apple says the remarkable feat will be attained "in collaboration with Apple Pay enabled banks and lenders" around the world.
If Apple Pay Later is not working for you even today, an official document spotted on Apple's support page states that “Apple Pay Later is no longer offering new loans.” “Existing Apple Pay Later loans and purchases are not affected,” the document added.