Apple’s ‘Buy Now Pay Later’ could majorly disrupt fintech

Apple’s recent foray into fintech with Apple Pay Later is intriguing. In “The Future of Fintech” on Motley Fool Live, contributors Jason Hall and Lou Whiteman discuss how the company, with all of its resources, could be a game-changer in the fintech industry.

Apple Pay Later allows users to split the cost of an Apple Pay purchase into four equal payments spread over six weeks.
Apple Pay Later allows users to split the cost of an Apple Pay purchase into four equal payments spread over six weeks.

Jason Hall and Lou Whiteman for The Motley Fool:

Jason Hall: I think this is just signaling that Apple is willing to give it a try. I trust Tim Cook, I trust Luca Maestri, the CFO there. They will take risks with products. They will not take risks with the balance sheet. The amount of cash that consistently is on the balance sheet is evidence of that. I trust these guys.

I think the biggest threat to the rest of the buy now pay later industry continues to be their ability to manage risk. It’s far bigger than Apple, and we’re going to find that if these guys are any good over the next two or three years as the credit cycle plays out. That’s kind of my thoughts on it. Lou?

Lou Whiteman: Just round it up but I don’t think Jason, you hit on it. This isn’t the tech show. I think the thing we’ve all known about Apple for a long time, and I think it was really highlighted this week was the phone updates were nothing burger. Phones are a mature technology and we keep waiting for the what’s next, and whether it’s Apple car or the Apple TV a few years ago or fintech.

Apple is fully aware that they need a second act. I think a lot more than we perceive they do, given how great the phones are and what people are willing to pay for the phones. That’s mature business and they need a second act.

For me I’m looking at fintechs that I invest in, I think there’s a lot more opportunity in Apple with fintech than there is with an Apple car or something like that, and I’m going to be watching really closely because I do think with their balance sheet, with their resources and with the networks they have, this is a real natural player that could be a real pain in the side for a lot of fintech companies that we talk about every week here.

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  1. Again, ‘Buy Now, Pay Later” I can get with PayPal Credit. Only difference is, I get six months to pay off with no interest, not four and, I can decide the amount I wish to pay. So, I am not tied to four equal payments. I can double up one month and make a small payment the next depending on my financial situation. I’m not poo-pooing Apple’s Buy Now Pay Later, just stating a different option out there that I have been using since 2016 and very satisfied.

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