Has Apple Pay later been discontinued?

The Sun Sets on Apple Pay Later: What You Need to Know

Apple’s venture into the “buy now, pay later” (BNPL) space, known as Apple Pay Later, is quietly drawing to a close. While the feature might still linger on your iPhone for now, new loans are no longer being offered, and the writing is on the wall: Apple Pay Later is being discontinued.

For those who embraced the ease of splitting purchases into smaller installments, here’s a breakdown of what this sunset means for you, and what steps you should take moving forward:

What’s Happening Now:

• No New Loans Available: The most immediate change is that you can no longer apply for or access new Apple Pay Later loans. If you were hoping to use the feature for an upcoming purchase, you’ll need to explore alternative financing options.
• Accessing Loan Details Still Possible (For Now): Don’t panic – you can still access details about any existing Apple Pay Later loans. This is crucial for tracking your repayment schedule and ensuring you’re up-to-date on your payments.
• Transaction Updates Ceased: While you can still view your existing loans, you’ll no longer receive real-time updates within the Wallet app for Apple Pay Later transactions. This means the seamless integration you might have enjoyed is no longer active.

The Future: iOS 18 and the End of the Card

The final nail in the coffin for Apple Pay Later comes with the release of iOS 18. Apple has announced that this major software update will completely remove the Apple Pay Later card functionality from the Wallet app. Once iOS 18 is installed, the feature will be gone for good.

What Should You Do?

The focus should now be on managing your existing Apple Pay Later loans effectively. Here’s a checklist:

• Track Your Repayments: Closely monitor your existing loans to ensure you’re making timely payments. Without transaction updates in the Wallet app, it’s even more important to stay organized.
• Consider Early Repayment: If your finances allow, consider paying off your loans early. This eliminates the need to track payments altogether and provides peace of mind.
• Understand Your Loan Terms: Familiarize yourself with the terms and conditions of your loan agreement. Know the interest rates, repayment schedules, and any potential fees.
• Prepare for iOS 18: Be aware that updating to iOS 18 will remove the Apple Pay Later card functionality. Ensure all your outstanding loans are managed before making the update.

Why is Apple Discontinuing Apple Pay Later?

Apple hasn’t explicitly stated the reason for discontinuing the service, but speculation points towards their increased collaboration with established financial institutions like Affirm. By partnering with existing BNPL providers, Apple can leverage their infrastructure, regulatory compliance, and expertise, rather than building everything from scratch.

In Conclusion:

While the convenience of Apple Pay Later might be missed by some users, the discontinuation doesn’t come as a complete surprise. By focusing on managing your existing loans and preparing for the eventual removal of the feature with iOS 18, you can navigate this transition smoothly. The BNPL landscape is constantly evolving, and Apple’s shift towards partnerships suggests a different approach to consumer financing in the future.