Apple, which has identified financial services as a growth area, has experienced delays in rolling out such products, including Apple Pay Later, a “buy now, pay later” (BNPL) service announced in June 2022 and initially scheduled to launch in September. The service reportedly began rolling out in a beta test among Apple’s retail employees this month and could be available to consumers by March or April this year, according to recent reports. A proposed high-yield savings account tied to the Apple Card and Wallet app was unveiled in October but has yet to release. Continue reading Apple Pushing Forward into Financial Services Despite Delay

Apple’s all-in approach to buy now, pay later (BNPL) is viewed as an indicator of the company’s increased emphasis on financial services. Apple Pay has been around since 2014, and three years ago the tech giant issued a credit card with the help of Goldman Sachs. Now, Apple Pay users will be able to avail themselves of the new Apple Pay Later. A subsidiary of the Cupertino-based iPhone firm has received the necessary licenses to launch the new financial offering in most U.S. states. Apple’s initial plans are to underwrite and fund loans capped at $1,000. Continue reading Apple to Shake-Up Financial Services Sector with BNPL Plan