Apple Ends Apple Pay Later Service, Partners with Affirm

Apple is discontinuing its buy now, pay later service, Apple Pay Later, just a year after its launch, opting to collaborate with established industry players like Affirm and Klarna instead. The move reflects the challenges of creating a financial services business from scratch. Apple is shifting to allowing banks to offer buy now, pay later plans through Apple Pay and Apple Wallet, with Affirm being the first confirmed partner. This change will enable more users to access installment loan offerings globally, with Apple maintaining the customer relationship regardless of the chosen BNPL provider.