Apple is sunsetting its no-fee, no-interest buy now, pay later program less than a year after making it generally available.
In a Tuesday statement to 9to5Mac and a Monday statement to CNBC, Apple announced that it has discontinued Apple Pay Later, a U.S.-only program that allowed users to apply for a loan from $50 to $1,000 directly from the Wallet app on their iPhones.
The program, which became widely available in the U.S. in October, gave borrowers the option to pay off the loan in four installments across six weeks, with no fees or interest.
Apple Pay Later is no longer available starting this week, according to Apple.
Related: ‘Buy Now Pay
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