However, Apple did not provide a reason for its sudden retreat from the companys first in-house banking service.
Apple did not immediately respond to Gizmodos request for comment.
Now, just eight months later, the service is inexplicably shutting down.
Tim Cook pitching Apple’s banking push on stage.Photo: Michael Short (Getty Images)
Apple first announced Apple Pay Later at WWDC 2022 and was part of Apples then-promising push into financial services.
However, Apples banking unit has been a sore spot in the last year.
Goldman Sachs CEO David Solomon reportedlyfaced major internal backlashfor the partnership with Apple.
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