After being announced at WWDC two years ago, Apple's U.S.-only Pay Later feature has been discontinued. TechCrunch has confirmed this news, which was first reported by 9 to 5 Mac.

According to the official statement provided to TechCrunch:

Later this year, users worldwide will have access to installment loans through credit and debit cards, as well as lenders, when using Apple Pay. Due to the global introduction of this new installment loan offering, Apple Pay Later will no longer be available in the U.S.

Our focus remains on providing users with easy, secure, and private payment options through Apple Pay, and this new solution will allow us to offer flexible payments to a wider audience worldwide in collaboration with Apple Pay-enabled banks and lenders.

Pay Later was launched in late March 2023 and has now been discontinued. Apple had announced at WWDC 2024 last week that users will soon be able to access loans through third-party app Affirm via Apple Pay.

Apple mentioned, “Users in the U.S. will also be able to apply for loans directly through Affirm when checking out with Apple Pay, along with accessing installments from credit and debit cards with Apple Pay through various banks and issuers in different countries.”

Regarding this loan feature, Affirm stated, “This allows users to have additional payment options, combining the convenience and security of Apple Pay with the flexibility, transparency, and fee structures that users appreciate in Affirm.” This feature will be available later this year.

As of now, users in the U.S. no longer have the option of using Pay Later through Apple Pay. New loans are no longer being offered, but existing loans can still be managed and paid through Apple Wallet.

In recent years, there has been an 8% increase in personal loan usage since the start of the pandemic.