Yaacov Martin, CEO of Jifiti, emphasizes the distinction between Apple Pay and Apple Pay Later. He explains that Apple Pay is merely a payment method, whereas Apple Pay Later was a financial product. Martin suggests that Apple’s strategy is to serve as the intermediary (running the toll booth) rather than competing directly with BNPL providers. He believes Apple Pay Later was an experiment to set standards in the BNPL space. Martin also notes that Apple Pay Later was unique because it did not tie the consumer to a specific merchant, unlike many fintech BNPL programs that deeply involve merchants to address issues like abandoned shopping carts.
Read more for more insights on the evolving landscape of the BNPL industry and how major players are adapting to changes in The Financial Brand.
