Apple Will Handle Lending Itself With New Pay Later Service

Apple Will Handle Lending Itself With New Pay Later Service

(Bloomberg) — Apple Inc. will handle the lending itself for a new “buy now, pay later” offering, sidestepping partners as the tech giant pushes deeper into the financial services industry.

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A wholly owned subsidiary will oversee credit checks and make decisions on loans for the service, which is called Apple Pay Later. The business — Apple Financing LLC — has necessary state lending licenses to offer the feature, though it operates separately from the main Apple…


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