Affirm Shares Fall as Apple Announces ‘Apple Pay Later’ at WWDC

2022.06.06 21:05

Affirm (AFRM) Shares Fall as Apple Announce ‘Apple Pay Later’ at WWDC

Shares of buy now pay later service Affirm Holdings (NASDAQ:AFRM) are under pressure mid-day after Apple (NASDAQ:AAPL) announced at today’s WWDC 2022 event that they will offer their own buy now pay later service called ‘Apple Pay Later’.

Apple Pay Later will be available everywhere Apple Pay is accepted and merchants will not be required to make additional changes.

Customers will have the option to pay in four installments with zero interest.

Apple said the service will be managed through Apple Wallet.

Shares of Affirm fell 4.7% in intra-day trading on the competitive news.

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