Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Apple Scraps Pay Later Loan Scheme in Shift to Third-Party Lenders

by June 18, 2024
June 18, 2024
Apple Scraps Pay Later Loan Scheme in Shift to Third-Party Lenders

Apple is ending its in-house “buy now, pay later” scheme in the US, a service it launched just last year.

The tech giant will now offer customers payment plans through third-party credit and debit card lenders. Existing borrowers can still manage their payments using Apple’s Wallet app.

The decision marks a significant shift for Apple, retreating from its earlier ambitions to provide traditional financial services. Apple Pay Later allowed US users to split the cost of purchases up to $1,000 (£788) into four instalments over six weeks without interest or fees. This move had positioned Apple as a direct lender through its subsidiary, Apple Financing.

The service was introduced when US interest rates were near zero, making borrowing more attractive. However, as central banks raised rates to combat inflation, such financing plans became less appealing to consumers.

During its annual developer event last week, Apple announced partnerships with banks, including Citi in the US, HSBC in the UK, and ANZ in Australia, to offer instalment payment options. These new payment plans will be available on Apple’s upcoming iOS 18 operating system, expected to be released later this year.

Read more:
Apple Scraps Pay Later Loan Scheme in Shift to Third-Party Lenders

0
FacebookTwitterGoogle +Pinterest
previous post
Labour Aims to Improve UK-EU Post-Brexit Trade Deal, Says Reeves
next post
Soup Sales Surge as Rainy Spring Affects Consumer Spending

You may also like

Bank of Ireland UK reprimanded for inaccurate data...

December 15, 2023

Empowering Communities Through Healthcare: A Conversation with Lena...

January 16, 2025

How A Healthy Workplace Culture Boosts Productivity

June 23, 2023

Increased HMRC VAT investigations bring in £11.4bn of...

December 29, 2023

Proper Waste Disposal for Your Business

July 2, 2023

Firms set to retain four-day week after trial...

February 21, 2023

Longest-ever wait for payment for SMEs in retail...

April 11, 2023

Bank of England governor urges UK to rebuild...

May 9, 2025

Chancellor warned of £8bn shortfall as electric cars...

February 26, 2025

Seven million Britons embrace crypto as Bitcoin soars...

November 26, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • FLASHBACK: Musk accused Trump, GOP leaders of not wanting to cut spending — here’s where they said they would

      June 7, 2025
    • ‘Right down the line’: Medicaid reform in ‘big, beautiful bill’ divides lawmakers by party

      June 7, 2025
    • FAST distribution and IA

      June 7, 2025
    • Why Independent Digital Platforms Are Gaining Ground Among UK Entrepreneurs

      June 7, 2025
    • Is Decentralisation the Future of Online Services in the UK?

      June 7, 2025
    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,560)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved