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Apple exits buy-now-pay-later business as the sector draws regulatory scrutiny

Posted on AllSides June 17th, 2024
From The Center

Apple Inc. is shutting down its Pay Later program, which let customers make purchases on an installment plan, marking a retreat from efforts to offer more financial services in-house. The company said Monday that it’s no longer offering loans for Apple Pay Later, which allowed users to pay off purchases of as much as $1,000 over four installments. The iPhone maker took the step after announcing that third-party services—such as ones from Affirm Holdings Inc. and Citigroup Inc.—would be integrated into its upcoming iOS 18 software. “Starting later this year,...

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