Apple Pay Later, a service that allowed users to borrow money and repay it in installments with no fees or interest, has been discontinued by Apple as of today. This feature was available to all iPhone users starting last October but is now being replaced with new installment loan options.

Apple is set to introduce new features to Apple Pay later this year, including the ability for users to apply for installment loans from buy now, pay later firm Affirm and from credit and debit cards. This change will allow users across the globe to access installment loans through Apple Pay, in collaboration with banks and lenders.

While Apple Pay Later was only available in the U.S., the new installment loans feature will be offered in various countries worldwide. Users can expect to access installments from credit and debit cards with Apple Pay starting in Australia, Spain, the U.K., and the U.S.

Looking ahead, Apple aims to provide more flexibility and choice for users when checking out online or in-app. Users will be able to view and redeem rewards, as well as access installment loan offerings from eligible credit or debit cards when making a purchase with iPhone or iPad.

Although Apple Pay Later had a short lifespan of eight months since its full launch last October, the decision to introduce new installment loan features reflects Apple’s commitment to providing easy, secure, and private payment options through Apple Pay. Stay tuned for more updates on these upcoming changes!