Apple announced the closure of the "Pay Later" feature
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Apple announced that it will close its "Pay Later" program and no longer provide loan services. The program allowed users to repay shopping bills of up to $1000 in four installments. This move signifies Apple's retreat in providing financial services internally. Apple plans to integrate third-party services in the upcoming iOS 18 software, and global users will be able to access installment loan services when checking out with Apple Pay. Users with outstanding loans can still manage them in the Wallet app. Apple stated that their focus remains on providing users with convenient and secure payment options through Apple Pay
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