The co-founder and CEO of Klarna says that Apple’s new Apple Pay Later feature is a great win for customers, quipping that plagiarism is “the highest form of flattery.”
Speaking about Apple’s new Apple Pay later features he said; “It is a great win for consumers worldwide that Apple is now embracing a better form of consumer credit.”
While he joked that plagiarism “is also the highest form of flattery”, he said there were “some more interesting dimensions” to the announcement.
Namely, Siemiatkowski believes the move will accelerate the rise of real interest-free BNPL (buy now pay later) services over traditional credit cards, which would be a big win for consumers. He also said Apple’s foray into the field might help the media become more curious to understand BNPL and how it is “meaningfully better for consumers than traditional credit cards.”
He likened the move to Apple joining Spotify in the music streaming industry, and suggested the move could see an end to more predatory services that charge high-interest rates, asking “who will pay APRs of 40%.”
Apple’s iOS 16 upgrade also includes a new order tracking feature built into Apple Pay, letting you see the progress of deliveries. The betas for this and all of Apple’s other new software is available to developers right now!
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