Apple Shutting Down Pay Later, Its Affirm Rival, After One Year
- Company announced third-party offerings are coming to iOS 18
- Apple will no longer offer new loans via Pay Later service
Apple Inc. is shutting down its Pay Later program, which let customers make purchases on an installment plan, marking a retreat from efforts to offer more financial services in-house.
The company said Monday that it’s no longer offering loans for Apple Pay Later, which allowed users to pay off purchases of as much as $1,000 over four installments. The iPhone maker took the step after announcing that third-party services — such as ones from Affirm Holdings Inc. and Citigroup Inc. — would be integrated into its upcoming iOS 18 software.