That got an official cancellation even faster than AirPower did. 😩
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Apple Discontinuing Apple Pay Later
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They should have discontinued it in four easy installments...
there are actually people out there who don't have/qualify for an Apple Card ...
💯And also invites more regulators to look into them, both antitrust and financial
It encourages spending when people might not otherwise spend. Apple gets fees for that spending.
I actually liked APL. Was a seamless way to justify impulse purchases of things I don't need.
Ahh ok, I never used it I thought it was one of those where if you don’t pay it off in X months you’d have to pay interest back to the purchase date
Less bad, but Apple shouldn’t really encourage bad financial decisions
I think Apple discovered that the Klarna and others installment financing schemes are not particularly profitable due to high default rate.
Apple Pay Later was a non-starter for me because it required using a debit card to checkout.
I wonder if the new version will just use the installment plan (with fees) that credit cards already offer or if it'll be a fee-free Apple partnership.
I wonder if the new version will just use the installment plan (with fees) that credit cards already offer or if it'll be a fee-free Apple partnership.
No the article shouldn’t be titled that. Affirm installments is an addition to installments already on offer from others as the article statedProbably has to do with Apple's new partnership with Affirm they announced last week
- Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.
- Affirm will surface as an option for Apple Pay users on iPhones and iPads later this year.
- Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.
New features come to Apple services this fall
With the release of iOS 18, iPadOS 18, macOS Sequoia, watchOS 18, visionOS, and tvOS 18 this fall, Apple is enhancing the services users love with all-new features.www.apple.com
The ability to redeem rewards for a purchase with Apple Pay will be available beginning in the U.S. with Discover and Synchrony, and across Apple Pay issuers with Fiserv. The ability to access installments from credit and debit cards with Apple Pay will roll out starting in Australia with ANZ; in Spain with CaixaBank; in the U.K. with HSBC and Monzo; and in the U.S. with Citi, Synchrony, and issuers with Fiserv. Users in the U.S. will also be able to apply for loans directly through Affirm when they check out with Apple Pay.
Article title should be Apple Discontinuing Apple Pay Later, Replacing It With Affirm
- Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.
In other news, they will be implementing a new policy of pay now, get a stable OS release later.
Ohhh.waitaminute
Ohhh.waitaminute
100%, that was exactly my thought and I fully expected this to happen when i saw the Affirm partnership.Probably has to do with Apple's new partnership with Affirm they announced last week
- Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.
- Affirm will surface as an option for Apple Pay users on iPhones and iPads later this year.
- Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.
New features come to Apple services this fall
With the release of iOS 18, iPadOS 18, macOS Sequoia, watchOS 18, visionOS, and tvOS 18 this fall, Apple is enhancing the services users love with all-new features.www.apple.com
The ability to redeem rewards for a purchase with Apple Pay will be available beginning in the U.S. with Discover and Synchrony, and across Apple Pay issuers with Fiserv. The ability to access installments from credit and debit cards with Apple Pay will roll out starting in Australia with ANZ; in Spain with CaixaBank; in the U.K. with HSBC and Monzo; and in the U.S. with Citi, Synchrony, and issuers with Fiserv. Users in the U.S. will also be able to apply for loans directly through Affirm when they check out with Apple Pay.
Article title should be Apple Discontinuing Apple Pay Later, Replacing It With Affirm
Other countries seem to think that this whole “Apple offering products that their citizens want” needs to stop, and stop now. So, it’s not surprising to me that they’re waiting to see how the current situation plays out before adding any new features.
This is nonsense. It has nothing to do with Apple getting its act together. Apple Pay adoption in the US has been growing exponentially for a while and is accepted virtually everywhere now.
The major difference is changing processes/habits and tipping culture. In your example of restaurants.... most US restaurants actually do take Apple Pay (really... contactless payments). But in the US, the process of a paper check being delivered to a table by a server, who then returns and picks up the check with a physical credit card, runs the card, and then returns with the credit card transaction receipt with signature and tip line is very much engrained in most American restaurants. In Europe, most restaurants have used handheld credit card scanners for many years. In the US this is only starting to gain popularity, but very little popularity at nicer restaurants.... it's seen much higher uptake at fast casual type restaurants.
But at most of these American restaurants.... if you actually put your phone with Apple Pay open and approved on the screen, the server could take it back and pay at their kiosk. Just no one is going to do that. It's not Apple's fault. But it is changing, and in a few years it will be the norm to pay by phone everywhere in the US
At this point they should just can the whole Apple Card (since we KNOW It won’t be released worldwide at any point with Goldman as the partner), and concentrate on getting Apple Cash in more countries, and greatly improving the Connected Cards feature to more than just Discover in the United States.
I read this as they are discontinuing Apple Pay later. I was like wth
You are kidding right? I use Apple Pay at restaurants all the time, in fact, a lot of the mom and pop restaurants bring the card reader to the table, JUST LIKE THE UK. The major chains usually now have a QR code that you can scan, or a crappy tablet set at the table set up to take payments. For the ones that have none at all, you can still use your iPhone to pay the server by using the “pre-auth” method. That method is getting rarer and rarer thankfully.
And as for regular stores, pretty much everyone but Walmart and Home Depot has Apple Pay.
That's an unfortunate headline. Freaked me out for a second 😂
This is because contactless is accepted EVERYWHERE in the UK and has been this way for over a decade. No exceptions. Apple Pay = contactless so you can use it anywhere here. As much as I was shocked when I started visiting the US over a decade ago to find they were so far back with contactless payments, I also couldn't believe it on my more recent visits where Apple Pay wasn't just accepted everywhere. I just use my watch to pay for everything and don't even take cards with me and got caught short in the US, was really embarrassing.
It was the same back with the first mobiles, they were common and mainstream in the UK many years before they were internationally in the US.
To be fair, a loan shark charges high interest rates. Apple wasn’t charging interest or fees.
Also think their credit requirements were too tight. Most folks using BNPL don’t have stellar scores.