Tech

What does Apple Pay Later mean for existing layby services?

Published

2 years ago

June 7, 2022

ticker NEWS

Apple’s Worldwide Developer Conference in California revealed the new Apple Pay Later feature to be launched in their iOS16 software

Apple Pay Later is an extension of the current Apple Pay digital wallet, which is coming to iOS devices, and will allow people to use their phones to make purchases.

The function will allow users to make a purchase immediately and pay it across four instalments.

Apple Pay Later will offer a range of different payment options. Photo: Apple

At the conference, Apple announced the technology will involve zero interest rates or late fees.

“Users can apply for Apple Pay Later when they are checking out with Apple Pay, or in Wallet.”
APPLE

The technology is not the first of its kind with services like AfterPay, Affirm, Klarna and PayPal already adopting layby models for users.

“Apple Pay Later is available everywhere Apple Pay is accepted online or in-app, using the Mastercard network,” the company says.

Since the announcement, Affirm stock levels have already dropped 3 per cent.

Other companies like AfterPay have been struggling and declining in the market for some time.

Some Twitter users are expressing concerns the technology will encourage people to overspend, while others say it will help with budgeting.

It's a good benefit for consumers who are smart enough to budget and not overspend on their money and use the service on items they can afford. 0% interest payments means I can have money going somewhere else.
— justin – the average rage tweeter (@Jj_scoobs) June 7, 2022

The new iOS16 technology also sees a number of other features including the eradication of messages and photo album sharing.

Amanda Gunn contributed to this report

Shows

Is GenerativeAI transforming education?

Published

3 days ago

May 3, 2024

ticker NEWS

Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

News

How AI is leveraging Amazon’s fast production

Published

4 days ago

May 2, 2024

Nathan Langridge

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

Tech

Tesla is slashing prices to stay competitive

Published

2 weeks ago

April 21, 2024

Reuters

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.