What: Apple discontinues its BNPL offer, one year after launch.

Why it is important: Regulation and scrutiny on tech players might limit their ambitions, leaving a door open for retailers.

Apple has discontinued its "buy now, pay later" service, Apple Pay Later, in the United States, effective immediately. The service, launched last year, allowed users to split purchases into four payments over six weeks without fees or interest. Existing loans can still be managed through the Wallet app. This shift is part of Apple's broader strategy to enhance Apple Pay globally with new features, including installment loans through various credit and debit cards and partnerships with banks like ANZ, CaixaBank, HSBC, Monzo, Citi, Synchrony, and issuers via Fiserv. Additionally, in the U.S., users can secure loans through Affirm. These features, which also allow users to view and redeem rewards, are set to launch later this year in multiple countries, providing more flexibility in how users manage their finances with Apple Pay.

Apple discontinues its buy now pay later feature