Apple Revises Payment Options, Reportedly Ends 'Buy Now, Pay Later' Service
Portfolio Pulse from Shivani Kumaresan
Apple Inc. (NASDAQ:AAPL) will discontinue its 'buy now, pay later' (BNPL) service in the U.S. and introduce a new loan program later this year. The new program will allow installment loans through various payment methods, including credit and debit cards, directly via Apple Pay. Existing BNPL customers can continue to manage and repay their loans through the Wallet app. This move aims to expand Apple's financial services globally. Apple stock has gained over 17% in the last 12 months.
June 18, 2024 | 9:39 am
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POSITIVE IMPACT
Apple will discontinue its BNPL service and introduce a new loan program, aiming to expand its financial services globally. This move could attract more users to Apple Pay and enhance revenue streams.
Discontinuing the BNPL service and introducing a new loan program could attract more users to Apple Pay, enhancing Apple's financial services and potentially increasing revenue. The stock has already gained over 17% in the last 12 months, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
iShares U.S. Technology ETF (IYW) holds Apple stock, which is set to discontinue its BNPL service and introduce a new loan program. This could positively impact IYW's performance.
As IYW holds Apple stock, the positive developments in Apple's financial services could enhance IYW's performance. Apple's stock has shown strong growth, which could benefit IYW.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Vanguard Information Technology ETF (VGT) holds Apple stock, which is set to discontinue its BNPL service and introduce a new loan program. This could positively impact VGT's performance.
As VGT holds Apple stock, the positive developments in Apple's financial services could enhance VGT's performance. Apple's stock has shown strong growth, which could benefit VGT.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50