Apple Pay Later is dead, long live Affirm loans
What led Apple to discontinue the Apple Pay Later service?
Apple discontinued the Apple Pay Later service because it was introducing a new loan program in collaboration with Affirm2. As the new loan program was offering installment loans through credit and debit cards as well as lenders when checking out with Apple Pay, the Apple Pay Later service became redundant2. The new loan program was also going to be available globally, while Apple Pay Later was only available in the United States2. Therefore, Apple decided to focus on the new installment loan features coming to Apple Pay and discontinue Apple Pay Later.
When was Apple Pay Later first announced and how long was it available to the public before being discontinued?
Apple Pay Later was first announced at Apple's Worldwide Developers Conference (WWDC) in June 2022. It was available to the public for about seven months before being discontinued. The service was killed in June 2024, two years after its initial announcement.
How will the integration of Affirm loans into Apple Pay affect current Apple Pay users?
The integration of Affirm loans into Apple Pay will provide current Apple Pay users with additional financing options when making purchases. Users in the U.S. will be able to apply for loans directly through Affirm when checking out with Apple Pay. This feature will roll out with iOS 18 this fall5.
With the addition of Affirm loans, Apple Pay users will have more flexibility in managing their payments, as they can choose to pay for purchases in installments. This feature is particularly beneficial for those who want to make larger purchases and spread the cost over time.
However, it's important to note that Apple Pay Later, Apple's own buy now, pay later service, has been discontinued as a result of the Affirm integration. Those with existing payment plans through Apple Pay Later can still access them through the Wallet app, but no new loans will be accepted moving forward.
In summary, the integration of Affirm loans into Apple Pay will provide users with more financing options and flexibility, but it also marks the end of Apple Pay Later.