Apple stops its Apple Pay Later service and starts using Affirm and Klarna instead.

Apple is stopping its service called Apple Pay Later. This service let people pay for things in four payments over time. Apple Pay Later was launched just a year ago, but it hasn't been as successful as Apple hoped.

Apple's decision shows that creating a financial service is hard, even for a big company like Apple. Other companies like Affirm and Klarna are already very popular in this market.

Apple Pay Later was supposed to compete with these companies by offering no fees or interest on purchases. However, Apple Pay Later was only usable at stores that accepted Apple Pay, while other services were accepted in more places.

Now, Apple is changing its approach. They will work with banks and existing buy now, pay later companies like Affirm. This means Apple Pay Later will be discontinued in the United States.

Apple says this new strategy will allow them to offer flexible payment options to more people around the world. People who are currently using Apple Pay Later will still be able to manage their payments through Apple Pay.