Apple Pay Later Discontinued After Eight Months – Implications for Users

Apple phases out "buy now, pay later" feature to integrate worldwide installment loan services into Apple Pay

Apple has abruptly ended its "buy now, pay later" service, once touted by analysts as a potential game-changer in the market. The decision, quietly communicated through a statement to 9to5Mac, means that new users can no longer access Apple Pay Later. Apple's support website confirms this, stating, "Apple Pay Later is no longer issuing new loans," while reassuring existing customers that their current loans and purchases remain unaffected.

For those with existing loans through Apple Pay Later, payments can still be made and managed through Apple's Wallet app without interruption.

Consumer Preference Shifts Towards Flexible Payment Options Over Apple Pay

"Apple Introduces Enhanced Installment Payment Options Through Apple Pay Worldwide"

"In a move expanding its payment offerings, Apple debuted Apple Pay Later in the US last October, following its initial announcement at WWDC22 and subsequent launch in March 2023. This service allowed eligible users to split Apple Pay purchases into four interest-free installments over six weeks, all managed seamlessly within Apple Wallet via the Mastercard network.

However, Apple has now announced plans to integrate broader installment loan capabilities directly into Apple Pay, surpassing the previous US-only limitation of Apple Pay Later. This expansion will extend to the UK, Australia, and Spain, facilitating flexible payments through partnerships with Apple Pay-enabled banks and lenders.

“Our commitment remains steadfast in delivering secure and convenient payment solutions via Apple Pay. This evolution underscores our dedication to providing global users with enhanced financial flexibility,” stated Apple."

Guidance for Apple Pay Later Users Facing Various Situations

If you're currently using Apple Pay Later and have an outstanding loan, rest assured that Apple isn't demanding immediate repayment. Here’s what you need to know based on different scenarios:

1. Active Loan: Continue making your scheduled payments on time, whether through autopay or manually.

2. Unshipped Purchase: For purchases awaiting shipment, your initial down payment is debited from your selected debit card once the merchant processes your order. Subsequently, the remaining three payments follow every two weeks as per your payment schedule.

3. Returned Items or Refunds: If you’ve returned an item or are awaiting a refund, the existing process remains unchanged. Should you encounter any issues with your refund, reach out to Apple Support for assistance.

In case of any order-related issues, start by contacting the merchant directly. If the issue persists unresolved, you can escalate it to an Apple Pay Later Specialist for further assistance.