Apple stopped offering new Apple Pay Later loans in the United States on June 17, 2024. The change ended Apple’s own installment-loan product, not Apple Pay itself. Customers with existing loans could continue viewing, managing, and repaying them through Apple Wallet, while Apple shifted toward installment offers from companies such as Affirm and Klarna, plus participating banks and card issuers.
What happened to Apple Pay Later?
Apple Pay Later was discontinued for new borrowing in the U.S. on June 17, 2024. Existing balances were not canceled, and the service did not turn into a debt-forgiveness program. Borrowers with open loans could continue managing and repaying them through Apple Wallet under their original terms. Apple’s legal terms and reporting from TechCrunch support that distinction.
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Apple Pay continued operating normally. What ended was Apple’s decision to originate and service its own small buy-now-pay-later loans.
The timeline is more complicated than “months after launch”
- June 2022: Apple previewed Apple Pay Later at WWDC.
- March 28, 2023: Apple announced the product and began inviting selected users to a prerelease version.
- Later in 2023: Availability expanded more broadly to eligible U.S. users. The reported October general-availability milestone was not the same as the original announcement.
- June 11, 2024: Apple announced a new installment strategy using third-party lenders and financial institutions.
- June 17, 2024: Apple stopped accepting new Apple Pay Later loans.
- After June 17, 2024: Existing borrowers could continue account management and repayment in Wallet.
So the product lasted roughly 15 months from its March 2023 introduction to the end of new lending, and less than a year from its broader rollout. Calling it a shutdown “just months after launch” is directionally understandable but collapses several different milestones. Apple’s original announcement is available in its March 2023 Newsroom post.
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What Apple Pay Later offered
Apple Pay Later was a U.S.-only installment loan made by Apple Financing LLC. Eligible customers could split purchases of $50 to $1,000 into four payments over six weeks. Apple advertised the product as having no interest and no fees.
At launch, it worked for online and in-app purchases on iPhone and iPad and required iOS 16.4 or iPadOS 16.4. Repayments had to come from a linked debit card; a credit card could not be used as the repayment method. Approval and eligibility were required, and Apple warned that loan and payment history could be reported to credit bureaus. The product’s original terms are described in Apple’s launch announcement.
Why did Apple discontinue it?
Apple’s confirmed explanation
Apple said it was moving to a new global installment-loan offering supplied by participating lenders and financial institutions. In other words, Apple changed its operating model: instead of offering one Apple-controlled loan product, Apple Pay would serve as a way for different lenders and card issuers to present their own installment plans.
Apple announced plans involving Affirm in the U.S., Klarna in the U.S. and U.K., and issuer-based options involving institutions such as Citi, Synchrony, and Fiserv. Its announcement also listed country-specific partners including ANZ, CaixaBank, HSBC, Monzo, NewDay, Zilch, and DBS. Availability depends on the market and the specific provider. See Apple’s June 2024 announcement.
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What Apple has not confirmed
Apple has not publicly established that Apple Pay Later ended because of poor demand, losses, underwriting problems, regulatory pressure, servicing costs, or a breakdown in its relationship with Goldman Sachs. Those issues have appeared as context in outside coverage, but they should not be treated as Apple’s confirmed reason.
The safest conclusion is that Apple Pay Later was a short-lived product strategy. Its discontinuation does not prove that Apple abandoned installment payments or that the service was definitively a financial failure. Apple did not publish the user, loan-volume, loss-rate, or profitability data needed to make that claim.
What existing borrowers need to know
If you already used Apple Pay Later, the end of new lending did not erase your obligation. Existing loans remained available through Apple Wallet for account management and repayment. Continue following the payment schedule and terms associated with the loan.
Do not assume that Apple canceled balances, accelerated repayment, or transferred every account to a new provider. The available information supports continued repayment and management, not forgiveness or automatic changes to the original debt. For an account-specific issue, check Wallet and Apple’s current legal documentation.
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What replaced Apple Pay Later?
There is no single replacement product. Apple Pay now acts more like a platform through which eligible lenders, banks, and card issuers can offer installment financing.
Affirm through Apple Pay
Affirm offers Pay in 4 and longer repayment plans in eligible Apple Pay transactions. Affirm’s documentation says online and in-app use requires iOS or iPadOS 18 or later, while its current in-store Wallet instructions describe iPhone use with iOS 26 or later. The exact requirements and availability can change.
Affirm lists Pay in 4 at 0% APR, while other plans may range from 0% to 36% APR. A down payment may be required. Crucially, these are not Apple loans; they are offered by Affirm or its lending partners. Approval, rates, purchase eligibility, and repayment terms vary. See Affirm’s Apple Pay information.
Klarna through Apple Pay
Klarna provides eligible users with Pay in 4 and other flexible-payment options through Apple Pay in supported markets. Klarna’s U.S. Pay in 4 page says the product is not offered by Apple and is subject to eligibility and approval.
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Pay in 4 is advertised as interest-free when paid on time, but other Klarna products have different terms. Klarna also warns that a failed collection may result in a late fee of up to $7, subject to its stated limits. Review the provider’s terms rather than assuming every Klarna plan is identical. See Klarna’s U.S. Pay in 4 disclosures.
Installments from banks and card issuers
Some eligible banks and card issuers can display their own installment offers inside Apple Pay. The lender, interest rate, fees, credit-reporting policy, repayment schedule, and eligibility requirements come from that issuer—not from Apple.
Apple Support describes a process in which users may see a “Pay Later” hint or installment option when an eligible card supports installments. Whether an option appears can depend on the country, card, issuer, merchant, transaction, device, and software version. Apple’s installment-payment support page explains the general framework.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Comparison of the available approaches
| Option | Lender | Typical structure | Interest and fees | Main limitation |
|---|---|---|---|---|
| Former Apple Pay Later | Apple Financing LLC | Four payments over six weeks | Advertised as no interest or fees | No longer issues new loans |
| Affirm on Apple Pay | Affirm or lending partners | Pay in 4 or longer plans | Pay in 4 listed at 0% APR; other plans may be 0%–36% APR | Approval, terms, down payments, and availability vary |
| Klarna on Apple Pay | Klarna or its lending entities | Pay in 4 and other options | Pay in 4 terms differ from longer-term products; late-payment consequences may apply | Not offered by Apple and not available for every transaction |
| Issuer installments | Participating bank or card issuer | Varies by issuer | Varies by issuer | Requires a qualifying card and supported transaction |
Why one Apple Pay user may see an installment option and another may not
Apple Pay acceptance alone does not guarantee financing. An installment offer may be absent because:
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- the lender does not serve your country or state;
- your card issuer does not participate;
- the merchant, product, subscription, or recurring transaction is excluded;
- the purchase amount or transaction type is not eligible;
- you do not meet the provider’s approval criteria; or
- your device or software does not meet the provider’s requirements.
Affirm specifically notes that some subscriptions and recurring transactions may not qualify. Replacement products also have different credit-reporting, late-payment, interest, and fee policies. Do not carry over assumptions from Apple Pay Later’s advertised terms to Affirm, Klarna, or an issuer plan.
Apple Pay Later versus Apple Card Monthly Installments
Apple Pay Later was separate from Apple Card Monthly Installments. The two products should not be treated as interchangeable: Apple Pay Later was a small, short-term loan available through Apple Pay, while Apple Card Monthly Installments are tied to eligible Apple Card purchases and Apple Card terms.
Likewise, the end of Apple Pay Later did not mean Apple Pay or every Apple-branded payment feature was discontinued.
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