`Apple Pay Later` could impact credit card industry more than Apple Card
(iMore iPhone)

Apple Pay Later could disrupt the credit card industry more than Apple Card ever could. Yesterday, a report from Bloomberg Law stated that Apple is working on a new financing service called Apple Pay Later. The new service would enable customers making a purchase with Apple Pay to delay payments over time, similar to other financing offerings like Affirm or Paypal. Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the `buy now, pay later` offerings popularized by services from Affirm Holdings Inc. and PayPal Holdings Inc. The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs Group Inc. as the lender for the loans needed for the installment offerings, according to people with knowledge of the matter. Goldman Sachs has been Apple`s partner for the Apple Card credit card since 2019, but the new offering isn`t tied to the Apple Card... The report sent shares of existing...