Apple discontinues Apple Pay Later, introduces new installment options

Apple announced the closure of its Apple Pay Later service, launched just a few months ago. In the USA, the functionality that allowed spreading payments into four installments over six weeks had been available since October 2023.

In place of Apple Pay Later, the company plans to introduce the option of using installment loans with credit cards, debit cards, and external lenders when customers make purchases through Apple Pay. This new functionality is expected to be available before the end of this year.

Apple stated to 9to5Mac:

“From the end of this year, users worldwide will be able to use installment loans offered by credit and debit cards, as well as lenders, for payments through Apple Pay. With the introduction of this global installment loan offering, Apple Pay Later will no longer be available in the USA. Our mission is to provide users with easy, secure, and private payment options via Apple Pay, and this innovation will allow us to offer flexible payments to a larger number of people worldwide, in cooperation with banks and lenders supporting Apple Pay.”

Apple did not respond to The Verge's questions for further comments. However, a support document indicates that “Apple Pay Later is no longer offering new loans,” although existing loans and purchases remain unchanged.

Apple Pay Later was introduced alongside iOS 16, although it was not included in the initial release of the system. The service was gradually rolled out from March 2023 to randomly selected users before reaching a wider audience in the USA in October. Ultimately, Apple Pay Later existed for just under nine months and was not available in Poland.