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Apple pay-later foray blurs tech-finance boundary

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ICYMI: Apple unveiled plans to use its balance sheet to offer “buy now, pay later” loans to iPhone users. Keeping the loans in-house should enable Tim Cook’s firm to earn better margins, writes KarenKKwok

 

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Breakingviews - Apple pay-later foray blurs tech-finance boundaryTim Cook has crossed the banking divide. Big U.S. tech firms have so far largely kept out of the lending business. But on Monday Apple’s chief executive unveiled plans to use the $2.4 trillion company’s balance sheet to offer “buy now, pay later” loans to iPhone users. The push into financial services will keep traditional banks on their toes.
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