Watch Now to understand BNPL & Apple Pay Later

On June 6th at the annual Apple Worldwide Developers Conference (WWDC) there were 16 notable Apple announcements as the ios16 was introduced. One of them was the Apple Pay later feature and as Ron Shevlin wrote on June 10th in his Forbes article `Cutting through the Apple Pay later hype` following the announcement:

`the announcements set off a spate of pronouncements about the impending galactic and disruptive impacts of the new products and services.`

Here is a sample of these overreactions that were the main reason behind swiftly launching a short CFTE module following the announcement of of Apple Pay Later. These are my top three picks, and I would welcome any other shares pronouncing Apple Pay Later as the impending comet that will destroy the BNPL market.

1️⃣ Apple`s 1.5 h keynote killed companies/industries.

2️⃣ On June 10, Barron`s writes `Why Apple’s BNPL Just Became a Nightmare for Affirm and Block`

3️⃣ On June 15, AppleInsider (not any general media outlet) reports Under pressure from Apple Pay Later, PayPal improves its buy now pay later offerings

The Paypal BNPL new offering is for large purchases (10k) and for loans whose installments are paid on a monthly basis over the next 24 months.

Huy Nguyen Trieu, Co-Founder of CFTE, and I, recognized the confusion around the topic of BNPL and around Apple`s positioning in financial services to date. We worked intensely to produce a 1h module that would cover the ins and outs of BNPL, Apple’s positioning in financial services, and look at the Apple Pay Later features. The course is structured in three parts-installments.

Huy Nguyen Trieu, discusses the BNPL sector starting with a look at the market players globally and their positioning in e-commerce and in relation to payment players. Huy covers how BNPL works behind the scenes and what are the risks.

I discuss Apple`s journey into financial services starting from 2014 when it first launched Apple Pay in the US. I review its international expansion, the Apple Card, and the 2022 new offerings, including Tap to Pay. I cover Apple`s financial acquisitions and partnerships.

In the last part of the course, we jointly discuss the Apple Pay offering from the point of view of the consumer and from the point of view of the merchant. We look at the Apple Pay Later positioning in the BNPL market, and the opportunities and risks that Apple could face with the Apple Pay Later offering.

The module is free to watch for 2 weeks for anyone interested in:

• Understanding what BNPL is
• Discovering Apple’s positioning in the financial services
• Understanding how Apple’s BNPL work
• Learning about the main regulatory and risk considerations

This course is part of the THINK platform CFTE offering which is an online education platform catering to the global finance and technology community. THINK consists of short informative online courses delivered by leading industry experts and offered either on a standalone basis or on a subscription basis.

The APPLE BNPL course will surely clarify any existing confusion around whether Klarna`s business model is dead or Paypal is reacting to Apple`s Pay Later announcement.

Klarna`s business may fail for other reasons. Paypal`s new long-term installments offering for large purchases is Not in reaction to Apple Pay Later offering. Affirm`s and Block `s nightmares are Not because of Apple Pay Later.

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