Apple Shutters Apple Pay Later Months After its Launch

Apple is discontinuing its ‘Apple Pay Later’ service, months after launching it in the US late last year. The “buy now, pay later” service is effectively shuttered as of now.

Apple Pay Later is no longer being supported by the Cupertino company, confirmed by 9to5Mac. The service was first brought to the table to allow users to take loans on purchases from $50 to $1,000 that can be paid over six weeks across four installments. The service never arrived in Canada as it only launched in the US in October 2023.

Instead, Apple will be focusing on new features coming to Apple Pay later this year. Rather than identify US-specific features, the company will be offering global features to users. This includes the ability to access installment loan offers from eligible credit or debit cards and Affirm. The new built-in features will arrive later this year alongside iOS 18.

Here is the official statement given to 9to5Mac: 

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. With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later 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.

Those in the US with ongoing Apple Pay Later loans will still be able to manage and pay their loans via the Apple Wallet app. However, no new loans will be able to be taken out for purchases. These loans were backed by Apple in collaboration with Mastercard and Goldman Sachs.