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Apple abruptly abandons “buy now, pay later” service amid regulatory scrutiny

Posted on AllSides June 18th, 2024
From The Center

Apple has abruptly discontinued its "buy now, pay later" (BNPL) service, Apple Pay Later, which turned Apple into a money lender when it launched last March in the US and became widely available in October. The service previously allowed users to split the cost of purchases of up to $1,000 into four installments that were repaid over six weeks without worrying about extra fees or paying interest. For Apple, it was likely a move to increase total Apple Pay users as the company sought to offer more core financial services...

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