Apple Shuts Down Apple Pay Later Just Months After Launch

Apple Shuts Down Apple Pay Later Just Months After Launch

Introduction In a world where convenience and immediate gratification have become paramount, "buy now, pay later" (BNPL) services have surged in popularity. These services allow consumers to purchase items and pay for them over time, often without interest, making high-cost purchases more accessible. Apple, a company synonymous with innovation and consumer-centric solutions, joined the BNPL market with its Apple Pay Later service. Launched in October 2023, it promised to revolutionize the way consumers handled short-term financing. However, just months after its rollout, Apple announced the discontinuation of Apple Pay Later, leaving many to wonder what led to its rapid demise and what the future holds for Apple’s financial services. The Emergence of Apple Pay Later Apple Pay Later was introduced as part of a broader expansion of Apple Pay, the company's digital wallet and mobile payment service. The concept was simple yet appealing: users could make purchases and spread th…