Apple ($AAPL) is discontinuing its buy now, pay later service, Apple PayLater, based on Mastercard Installment product. The move is seen as Apple wanting to focus on being asset light and facilitating payment innovation. Apple is also settling a 'tap-and-go' payments probe with the EU and concluding a long-running EU antitrust investigation into its mobile payments system to avoid a huge fine. The decision to cancel BNPL has implications for companies like Affirm ($AFRM), which some believe could see a stock boost.
Apple Pay Later withdrawal likely because of a law passed in 1968 https://t.co/bC3EgRoTJy by @benlovejoy
Apple killed BNPL (buy now pay later). This requires a blooming work economy, not a blooming asset economy. I think it’s going to plummet further. Will layaway (aka: pay now, buy later) come back?
Apple dumps its buy now, pay later plans, and Affirm $AFRM is the big winner. A stock @MXLESQ and @BrynTalkington understand very well. @jonnajarian takes a position: He thinks this could be the boost that sends Affirm's stock back to $40? Rebel's Edge 🏴☠️1pm… https://t.co/rNCxJ1rhvc
$AAPL has cancelled Buy Now Pay Later (BNPL). Everyone is buying now. No one is paying later. This is the end of company like $AFRM. I think it’s going to 2 dollar. Now 32 dollar.
Apple Pay antitrust case about to be settled, with 10-year promise https://t.co/tenJvLVY5b by @benlovejoy
$AAPL Reportedly set to conclude a long-running EU antitrust investigation into its mobile payments system and avoid a huge fine - FT (Apple Inc) (More at https://t.co/KyUfERL5ky)
Apple to settle ‘tap-and-go’ payments probe with EU https://t.co/wF3x6aNwUo
Apple doesn't want to be your banker anymore https://t.co/0fqkrLuBsz
Another example that Apple likely wants to remain asset light, go after bigger markets, and be a facilitator of payment innovation. Win for $AFRM $SQ https://t.co/Ia2Fjyp5LI
Apple drops Apple PayLater based on Mastercard Installment product. MA Installments had 325 bps pricing... which caused merchants to abandon (opt out). https://t.co/byyWZKUc78 via @WSJ
$AAPL getting out of the buy now, pay later lending business. They know something. https://t.co/i8mhijFJaf