Apple shuts down Apple Pay Later 😳; Visa doubles down on bolstering small business growth 📈

FinTech is Eating the World, 17 June

Hey Everyone,

Good day & happy Tuesday! We’re starting another awesome FinTech week on Tuesday but boy it’s worth the wait 🫡 On today’s radar we have Apple that’s shutting down its BNPL product Apple Pay Later (what it’s all about & what’s next + some bonus deep dives into Apple’s new BNPL strategy & how Apple Intelligence will change everything), and Visa which is doubling down on bolstering SME biz growth (why it’s a smart play + a bonus deep dive into Visa & why you should be bullish). Let’s jump straight into the spicy stuff 🌶

Apple shuts down Apple Pay Later 😳

The news 🗞️ In a surprising move, tech giant Apple AAPL 0.00%↑ has just announced the discontinuation of its Apple Pay Later service, a Buy Now, Pay Later (BNPL) offering that launched in the United States just last year.

The service, which allowed users to split purchases of up to $1,000 into 4 equal payments over 6 weeks without fees or interest, will no longer be available as the tech giant shifts its focus to a new global installment loan offering.

Let’s take a look at this to see what it means, and what’s next on Apple’s agenda.