It seems to be like Apple’s purchase now, pay later (BNPL) service gained’t be seeing the sunshine of day for a while but. 

Apple Pay Later – an extension of Apple Pockets that may let customers break up the price of a purchase order made with their machine into 4 equal funds over six weeks, with out incurring curiosity or late charges – is dealing with some “vital” setbacks that would delay its launch till subsequent 12 months, based on Bloomberg (opens in new tab)’s Mark Gurman.

Having first introduced the BNPL service at WWDC in June 2022, Apple had hoped to launch Apple Pay Later alongside iOS 16 this September. However with the brand new working system now out within the wild and no Apple Pay Later to talk of, Gurman predicts that the service could but be delayed till the discharge of iOS 16.four within the spring of 2023 (i.e. between March–June subsequent 12 months).

Pay Later… a lot later

This new estimated timeframe comes as Apple, on the foot of its official iOS 16 web page (opens in new tab), writes that Apple Pay Later is “coming in a future replace”, the place different options on the identical web page (like no-setup Siri shortcuts) are listed as “coming later this 12 months.”

“Apple isn’t utterly sure when Apple Pay Later will likely be prepared for launch,” Gurman provides in his Bloomberg report. “I’m listening to there have been pretty vital technical and engineering challenges in rolling out the service, resulting in the delays.”

These “technical and engineering challenges” stay unclear for now, however we do know that Apple plans to finish its partnership with Goldman Sachs – which at the moment handles credit score checks and lending for Apple Card – and transfer its monetary companies in-house (beneath Apple Financing LLC) in time for the arrival of Apple Pay Later.

Apple Pay Later has confronted its fair proportion of pre-launch criticism, too. BNPL companies have come beneath fireplace in recent times for encouraging unsustainable spending, and Apple Pay Later – when it does finally launch – will attain way more customers than comparable companies like Klarna and Afterpay. Some monetary consultants concern that the widespread accessibility of Apple Pay Later might make it simple to abuse when used for nonessential purchases.

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