Apple Shuts Down Buy Now, Pay Later Service in the U.S.
Apple is ending its Apple Pay Later service but will still offer users access to installment loans. Here's what you need to know.


Apple (AAPL) is shutting down its Apple Pay Later service, effective immediately, and will instead provide users access to installment loans offered through credit and debit cards and third-party lenders, such as Affirm (AFRM).
The news was first reported late Monday by 9to5Mac. "Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay," an Apple spokesperson told 9to5Mac. As a result, Apple said it will no longer offer its buy now, pay later (BNPL) service in the U.S.
"Our focus continues to be on providing our users with access to easy, secure and private payment options with Apple Pay, and this solution will enable us to bring flexible payments to more users, in more places across the globe, in collaboration with Apple Pay enabled banks and lenders," an Apple spokesperson added.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If you currently have an active loan through Apple Pay Later, you will still be able to manage and pay your loan using the Apple Wallet App, an Apple spokesperson told 9to5Mac.
Apple Pay Later rolled out in October 2023 following a limited launch to randomly selected users in March 2023, allowing users to split eligible purchases of between $75 and $1,000 into four equal payments over six weeks – with no fees or interest.
Is Apple stock a buy, sell or hold?
Wall Street is bullish towards the blue chip stock. According to S&P Global Market Intelligence, the consensus recommendation among the 44 analysts following the stock that it tracks is a Buy.
However, analysts' price targets have struggled to keep up with AAPL's surging share price since its most recent earnings release and WWDC 2024 announcements, which gave investors insight into the company's artificial intelligence (AI) initiatives. Indeed, shares are up more than 23% since Apple's May 2 earnings release and more than 10% since WWDC kicked off on June 10. Currently, the average price target of $205.91 stands at a nearly 4% discount to current levels.
Wedbush is the most bullish on the Dow Jones stock with a Buy rating and a Street-high $275 price target.
"We believe Apple's AI strategy will leverage its golden installed base around personalization and large language models (LLMs) on the phone that should change the growth trajectory of Cupertino and spur an AI driven iPhone upgrade cycle starting with iPhone 16," Wedbush analyst Daniel Ives said in a note following the start of WWDC 2024.
He adds that "Apple is taking the right path to implement AI across its ecosystem," as well as laying the foundation for a "multi-year AI strategy across the strongest installed base of 2.2 billion iOS devices over the coming years with the Street giving no credit for AAPL's AI monetization."
Wedbush's $275 price target represents implied upside of nearly 30% to current levels.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
What Wall Street's CEOs Are Saying About Trump's Tariffs
We're in the thick of earnings season and corporate America has plenty to say about the Trump administration's trade policy.
By Karee Venema
-
The Role of the U.S. Dollar in Retirement: Is It Secure?
Protect your retirement from de-dollarization, because “capital always goes where it is treated best."
By Adam Shell
-
What Wall Street's CEOs Are Saying About Trump's Tariffs
We're in the thick of earnings season and corporate America has plenty to say about the Trump administration's trade policy.
By Karee Venema
-
To Stay on Track for Retirement, Consider Doing This
Writing down your retirement and income plan in an investment policy statement can help you resist letting a bear market upend your retirement.
By Matt Green, Investment Adviser Representative
-
How to Make Changing Interest Rates Work for Your Retirement
Higher (or lower) rates can be painful in some ways and helpful in others. The key is being prepared to take advantage of the situation.
By Phil Cooper
-
When to Sell Your Stock
Knowing when to sell a stock is a major decision investors must make. While there's no one correct answer, we look at some best practices here.
By Charles Lewis Sizemore, CFA
-
Within Five Years of Retirement? Five Things to Do Now
If you're retiring in the next five years, your to-do list should contain some financial planning and, according to current retirees, a few life goals, too.
By Evan T. Beach, CFP®, AWMA®
-
The Home Stretch: Seven Essential Steps for Pre-Retirees
The decade before retirement is the home stretch in the race to quit work — but there are crucial financial decisions to make before you reach the finish line.
By Mike Dullaghan, AIF®
-
Stock Market Today: Great Power Affairs Mesmerize Markets
The U.S. and China are at least talking about talking about tariffs, and investors, traders and speculators are showing a little less fear.
By David Dittman
-
Three Options for Retirees With Concentrated Stock Positions
If a significant chunk of your portfolio is tied up in a single stock, you'll need to make sure it won't disrupt your retirement and legacy goals. Here's how.
By Evan T. Beach, CFP®, AWMA®