Apple has announced the discontinuation of its Apple Pay Later model, which allows users to make purchases and pay them off in six equal installments without interest or additional charges. The feature was only available in the United States until now, but it was not implemented as planned due to technical issues.
Apple began developing this feature in July 2021 and had planned to introduce it globally as part of its mobile payment service, Apple Pay. However, the debut of iOS 16 did not see the implementation of this feature. Instead, users will be able to access installment loans offered through credit cards or lenders when making payments with Apple Pay.
The company remains committed to providing users with secure and private payment options through its native payment service for their devices. Those with active loans through the Apple Pay Later service will manage and pay their loans through the Apple Wallet.
