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Apple is discontinuing Apple Pay Later, but a replacement is coming

Apple Pay Later out, installment loans in.
Apple is discontinuing Apple Pay Later, but a replacement is coming Credit: Apple

Apple Pay Later is no more, but a replacement is coming.

Introduced at WWDC 2022 and launched in March 2023 in the U.S., Apple Pay Later was a service allowing users to split payments into installments without additional fees or interest. The service was initially offered to a limited number of customers before being expanded to all users in the U.S. in October 2023. It was limited to payments between $75 and $1,000.

On Monday, Apple confirmed to 9to5Mac that it has stopped offering Apple Pay Later, though existing users will still be able to manage their remaining loans through the Wallet app.

"Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay," Apple told 9to5Mac.

While we don't know the terms or the exact launch date for this new service, Apple did say "users across the globe," meaning it should be available globally, instead of only in the U.S.

"Our focus continues to be on providing our users with access to easy, secure and private payment options with Apple Pay, and this solution will enable us to bring flexible payments to more users, in more places across the globe, in collaboration with Apple Pay enabled banks and lenders," the company said.

At this year's WWDC, Apple announced several payments-related features, including Tap to Cash, which enables users to send cash to each other by holding their phones together. The company also partnered with fintech company Affirm to offer installment loans for eligible credit and debit cards. These new features are coming with iOS 18, scheduled to launch in the fall alongside new iPhones.

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