Apple has decided to continue with its installment payment service launched a little over a year ago Apple Pay Later to set up. The service which is provided e.g. Klarna It was intended to compete with and was never offered outside the United States. It is said that Apple now wants banks that offer credit or debit cards through Apple Pay to operate such installment payment services themselves in a statementWhich is available for 9to5Mac.
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Global is better than local
The iPhone company said installment loans will be offered “around the world” from the end of the year. Only a few of these have been deployed so far. Apple also apparently believes that various new lenders will be added as well. “With the launch of this new global installment loan offering, we will no longer offer Apple Pay Later in the United States.” The new solution will make it possible to “bring flexible payments to more users.”
Also, this means that Apple has clearly not succeeded for itself and its banking partner Goldman Sachs – with which the company is already in constant struggle – to attract enough customers. Apple Pay Later allowed up to four payments for purchases between $50 and $1,000, with no interest initially charged. Purchases would have to be made using Apple Pay on an iPhone, with each purchase processed separately through a credit agreement. The service was launched as a test in March 2023 and is available to all US customers from October 2023. The payment period was six weeks.
Apple Card is still not internationalized
Apple had cooperated iOS 18His AI Strategy And this Other new operating systems Last week it also announced that it would make changes to Apple Pay, its contactless payment offering for iPhone and Apple Watch, which can also be used in the Safari browser. These include new installment payment offers from various banks. Those named included CaixaBank in Great Britain, HSBC and Monzo in Great Britain, Synchrony and Citi (plus card issuer Fiserv) in the USA and ANZ in Australia. So far, only Affirm in the United States has been named as a first pure credit partner.
Apple Card, Apple’s own credit card, is still not internationalized. The company has been looking into it since last year To a new banking partnerafter which Goldman Sachs actually wanted to leave the business for several months, but at the same time was unable to contribute anything to the introduction in other markets. Apple Card has been on the market for about five years, purely in the United States. For iOS 18, Apple announced that it will open Apple Pay to other platforms as well. In browsers outside of Safari – including Windows PCs – it will be possible to pay using QR codes, provided you Apple Pay via stored iPhone Is.
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