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The Retired Investor: Buy Now, Pay Later
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: Affirm stock rallies after report of plans to work with Apple in Canada
An already busy week in the buy-now, pay-later (BNPL) market got even busier Tuesday after a report indicated that Apple Inc. plans to work with Affirm Holdings Inc. on an installment offering for those looking to buy various Apple devices in Canada.
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Reuters
3 minute read
Aug 3 (Reuters) - Apple Inc (AAPL.O) and Affirm Holdings Inc s (AFRM.O) PayBright are planning to launch a buy now, pay later program for Apple device purchases in Canada, Bloomberg News reported, allowing people to pay for iPhone, Mac, and iPad over 12 to 24 months.
In the United States, Australia and Europe, buy now, pay later is marketed as an alternative to credit cards. The service has soared in popularity during the pandemic as consumers seek other options to make purchases that are easier on their wallets.
On Monday, Square Inc (SQ.N), the payments firm of Twitter Inc (TWTR.N) co-founder Jack Dorsey, said it would acquire buy now, pay later pioneer Afterpay Ltd (APT.AX) for $29 billion, creating a transactions giant that will battle banks and tech firms in the financial sector s fastest-growing business. read more