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.
At the conference, Apple announced the technology will involve zero interest rates or late fees.
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.
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
Twitter Files: Jack Dorsey urges Elon Musk to ‘release everything without filter’
The fallout continues as Elon Musk keeps pursuing transparency
Ex-Twitter boss Jack Dorsey is calling on the new CEO Elon Musk to make all the ‘Twitter files’ public.
The move comes after the company’s former deputy general counsel James Baker was fired for his role in suppressing the Hunter Biden laptop story.
Baker is accused of being part of a ‘deep state’ at the social media platform and sabotaging or obstructing the recent efforts by Musk in releasing information to the public.
Twitter’s former deputy general counsel James Baker is also former counsel to FBI director James Comey.
The situation allegedly came to Musk’s attention on Tuesday after revelations that Baker was delaying the release of files showing government collusion with Twitter to journalists Matt Taibbi and Bari Weiss.
In a Tuesday thread Taibbi wrote, “On Friday, the first installment of the Twitter files was published here. We expected to publish more over the weekend. Many wondered why there was a delay.”
“We can now tell you part of the reason why. On Tuesday, Twitter Deputy General Counsel (and former FBI General Counsel) Jim Baker was fired. Among the reasons? Vetting the first batch of ‘Twitter Files’ — without knowledge of new management.”
Ohio Republican Congressman Jim Jordan promised investigations into this and other Big Tech firms colluding with government officials to suppress information.
“I am very concerned about the government influencing big tech in this collusion we now see big tech, big media, big government all working to keep information from with the people,” Jordan said.
When asked about this story during the White House daily press briefing, press secretary Karine Jean-Pierre said she will not comment of things that happened during U.S. President Joe Biden’s presidential election.
How did Musk lose his title as the world’s richest person?
Elon Musk has briefly lost his title as the world’s richest person
This is all following a steep drop in the value of his stake in Tesla and his $44 billion purchase of Twitter.
Bernard Arnault, the CEO of LVMH, which includes luxury brands such as Louis Vuitton, briefly took over the title, with a personal wealth of $185 billion.
Musk has held the top position since late 2021, but has seen his wealth drop, as Tesla investors are worried that he is focused more on Twitter than the electric vehicle company.
Tesla has lost nearly half of its market value and Musk’s value has fallen approximately $70 billion since he made a bid for Twitter back in April.
Musk slams investigation of bedrooms at Twitter HQ
It’s every office worker’s dream, turning headquarters into a snooze zone… but Elon Musk has slammed concerns
Elon Musk has criticised San Francisco Mayor over an investigation into offices turned into bedrooms at Twitter’s headquarters.
Musk accused the city of attacking companies providing bedrooms for “tired employees”.
The new Twitter boss recently demanded staff committed to long hours or left.
San Fran authorities are investigating potential violations of the building code
A Department of Building Inspection official told local media ‘We need to make sure the building is being used as intended.”
It follows this tweet from the director of product management, attracting thousands of eyeballs for her hashtag ‘sleep where you work’ post.
In May 2020, prior to Musk’s takeover, Twitter told employees they could work from home “forever” if they wished too.
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