Apple postpones its financial services

The new financial services of Apple will arrive later than expected: it seems that the Buy Now Pay Later (BNPL), bills and subscription for iPhones have been delayed. We will have to wait a little longer for this type of service from Apple.

Apple’s financial services experience delays

Expansion into financial services is a truly huge growth opportunity for Apple. But even something complicated – and not necessarily the field in which she is an expert. So some delay seems inevitable.

In recent months, Apple has announced iThe “buy now, pay later” service called Apple Pay Later, introduced in June to be launched last September. Inolte, presented last October a savings program for the Apple Wallet.

The program of abbonamento per iPhone e Apple Pay Monthly Rates, to handle larger transactions for longer periods while charging interest, they haven’t been announced yet. And they won’t be for a while, again because of these delays.

Mark Gurman of Bloomberg, however, explains that these innovations are on the way: simply, Apple is taking more time to launch them. Gurman explains, “Both of these services are on the way for Apple, but it’s clear that the financial boost is there proved more difficult than expected. I believe the delays on all four initiatives stem from engineering challenges, as well as work on a next-generation financial system that will underpin them.”

In fact, the company is developing its own technology to handle the interest calculation, premiums, credit checks, approvals and transaction history. All with the supervision of partners from the financial sector.

Gurman explains that Apple began internally testing Apple Pay Later a few weeks ago, also letting employees of Apple Stores try it: a test with tens of thousands of people. It seems that all these new could arrive as early as 2023 – although initially only in America. The transition to Apple’s financial services will be longer, but it’s coming.