Apple discontinues ‘buy now, pay later’…

Apple stopped offering new loans through its Apple Pay Later lending service after launching its buy now, pay later program in the US last year.

Announcing the move on its website, the tech giant noted that existing Apple Pay Later loans and purchases are unaffected.

9 to 5Mac reported Apple is replacing this program with new features that will be offered globally later this year as part of the Apple Pay payment process. These will come from third-party companies like Affirm, as well as credit and debit cards from issuers.

Bloomberg announced that upcoming Apple Play services will be available on iOS 18.

Two years ago, Apple announced the shutdown of its lending service at its annual Worldwide Developers Conference ahead of its launch last March.

Before it was discontinued, iPhone and Mac users in the US could purchase products from supported retailers by making payments in four installments over six weeks without interest or fees.