Apple Pay Later is rolling out to all users in the US
www.theverge.com
Apple’s take on BNPL is now available to more users.
  • AutoTL;DR@lemmings.worldBEnglish
    1·
    1 year ago

    This is the best summary I could come up with:

    If you thought the service was already out, that’s because Apple initially launched it on select iPhones and iPads in March.

    Apple also mentions Pay Later in its description of Wallet on the App Store, which wasn’t there earlier this month (as shown in an archived version of the page).

    The Verge reached out to Apple to confirm that the service has officially launched but didn’t immediately hear back.

    Even though Apple says Pay Later was made with “users’ financial health in mind,” it still poses some consumer safety concerns.

    A recent survey from Morning Consult showed that 41 percent of users carry debt from buy now, pay later services, such as Affirm, Klarna, and AfterPay, and that one-quarter of them missed a payment in August 2023.

    While Apple is handling the lending side of its Pay Later service, it’s enabled through the Mastercard Installments program.

    The original article contains 319 words, the summary contains 146 words. Saved 54%. I’m a bot and I’m open source!