Apple announced that it is getting rid of its"Apple Pay Later" option for Apple Pay purchases as the company rolls out a new monthly payment program.
Apple says that those with existing loans will continue paying them as normal. Apple added that there are no changes to the existing process for refunds being applied after returning an item to a merchant. According to a March 2024 report by NerdWallet, 25% of Americans have used buy now, pay later programs. Of those, about 1 in 3 have used them to pay for necessities.
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