After a year, Apple announced that it will shut down its buy now, pay later service PayLater.

Apple will shut down its Pay Later program that allowed customers to pay in installments, marking the company\’s internal withdrawal of more financial services

Apple is shutting down its Pay Later program that allowed customers to pay in installments, signaling the company is pulling away from more financial services internally.
The company said on Monday it would no longer offer new loans through Pay Later, a service that allows users to pay up to $1,000 in four installments.
Prior to this, Apple announced that from Affirm Holdings Inc. Third-party services from companies like Microsoft and Citi will be included in the upcoming iOS 18 software.
Starting later this year, users around the world will be able to get installment loans through credit and debit cards and lenders when using Apple Pay to check out, a spokesperson said in a statement.
With the launch of the new global installment loan service, we will no longer offer Apple Pay Later in the United States.
Apple used its internal platform to launch the Pay Later program in the United States last year.
This is the first time Apple has issued loans to customers through a new subsidiary. But it still relies on Goldman Sachs and Mastercard for support.

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