USA /
Apple launched the new service buy now pay after in USAa move that is likely to change the fintech sector dominated by firms like Affirm Holdings and the Swedish payment company Klarna.
The service, called Apple Pay Later, It will allow users to divide purchases into four payments spread over six weeks without interest or commissions, the company reported. In addition, this form of payment will be accepted in 85 percent of the establishments of EU.
Users will be able to request loans from 50 dollars, up to a limit of one thousand dollars, which they can use to online purchases and within applications in iPhone, o iPad, with businesses that accept Apple Payaccording to the company.
“Apple Pay Later It will affect some competitors. Other companies will have taken a look at the announcement of Apple of today because they are an omnipresent name. This will take a bite out of the market share of others,” said Danni Hewsonhead of financial analysis at AJ Bell.
Hewson added that Apple Pay Later it will be a disruptive factor as consumers search for the easiest way to get what they want as their budgets have been squeezed by inflation.
In 2020, pandemic-related lockdowns drove shoppers to online payment platforms, fueling demand for businesses fintech that offer buy-now-pay-later services, especially to millennials and to the clients of the generation Z.
Digital payment giants like PayPal y Block Inc have expanded into the sector through acquisitions, while Affirm went public in a multi-million dollar initial offering.
Since then, the fortunes of the sector have been turned around by rising interest rates and red-hot inflation, which have sapped purchasing power and forced consumers to tighten their belts.
The actions of Affirm Holdings fell more than 7 percent, after the launch of Applewhile those of PayPal They were down about 1.5 percent.
SNGZ
