'Apple discontinuing Apple Pay Later, ahead of new features launching this fall' - 9to5Mac
Portfolio Pulse from Benzinga Newsdesk
Apple has announced the discontinuation of its 'buy now, pay later' service, Apple Pay Later, effective immediately. Existing users can still manage their loans via the Wallet app.
June 17, 2024 | 6:21 pm
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NEGATIVE IMPACT
Apple has decided to discontinue its Apple Pay Later service, which may impact its fintech ambitions but allows the company to focus on other upcoming features.
The discontinuation of Apple Pay Later could be seen as a setback in Apple's fintech strategy, potentially affecting investor sentiment negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Affirm, a competitor in the 'buy now, pay later' space, may benefit from Apple's exit from the market, potentially gaining more market share.
With Apple discontinuing its Apple Pay Later service, Affirm may see an increase in users and market share, positively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PayPal, another player in the 'buy now, pay later' market, might see a positive impact as Apple exits the space, potentially increasing its user base.
Apple's discontinuation of Apple Pay Later could lead to increased adoption of PayPal's similar services, positively affecting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Square, which offers 'buy now, pay later' services through its Cash App, may also benefit from Apple's exit, potentially gaining more users.
With Apple discontinuing its Apple Pay Later service, Square's Cash App may attract more users, positively impacting its stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60