Apple Pay Later Explained
Understand what is BNPL and how Apple is aiming at revolutionising it
About the course
What’s behind Apple Pay Later? From its announcement during the 2022 Worldwide Developers Conference to its March 2023 early release, the industry started wondering the mechanism and economics behind this unique BNPL offering integrated in Apple Pay and Apple Wallet.
The ‘Buy now, Pay later’ technology is becoming more and more popular. And this short-term financing is provided by numerous companies such as Klarna (Sweden) and Affirm (USA) grasping the opportunities of this emerging business model. But how does it work in the case of Apple? Who pays the interest rates? What regulations need to be in place?
This course is here to guide you through the Apple Pay Later technology. In the course, you will learn the ins and outs of BNPL and how Apple is using it. You will also explore Apple’s unique positioning in financial services. From its 2014 launch of Apple Pay all the way to its latest launches, acquisitions, and publicly announced plans.
Difficulty: Foundation
Duration: 75mins
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With this online course, you will:
- Understand what BNPL is
- Discover Apple's positioning in the financial services
- Understand how Apple’s BNPL work
- Learn about the main regulatory and risk considerations
Skills
Fintech
Paytech
BNPL
Digital payments
Disruptive Tech
The expert you’ll be learning from
Dr. Efi Pylarinou
Global Influencer – Fintech & Disruptive Tech
Dr. Efi Pylarinou is the No.1 Global Woman Influencer in Finance & the Data conversation by Refinitiv 2019 & 2020. She is included in Onalytica`s 2021 & 2022, Top 20 Fintech Influencers & in their Top 20 in ‘ Who`s Who in AI’ professional influencers.
In 2022, she was included in the Top 50 Digital Futurists list, Top Linkedin & Twitter Voice by Engatica.
A seasoned Wall Street professional & a recognised technology thought leader. Efi Pylarinou is a speaker, a moderator, and a creative content producer serving the needs of Big Tech companies, Financial services corporates, innovative, Growth Fintechs.
She strongly believes in building bridges between the old and the new economy. She has over 190,000+ followers on Linkedin and 18,000+ on Twitter. Join her on the social platforms https://linktr.ee/Efiglobal
Course Content
In this chapter, we will define and explain the concept of BNPL (Buy Now Pay Later) as a financial digital product that allows clients to spread out their payments and merchants to improve their digital marketing.
We will have a brief overview of the history of BNPL, starting with Klarna’s launch in 2005 as well as the current market value of BNPL, including statistics on the lending volume and the top competitors (Klarna, Affirm, AfterPay, PayPal)
In this chapter, we will discuss Apple’s BNPL offering, Apple Pay Later. They cover various aspects of the product, including how it works for consumers and how it works for merchants (simple integration, benefits for merchants similar to other BNPL offerings but with no need for collaboration with Apple). They also discuss the potential risks and opportunities associated with Apple Pay Later, including its potential to attract new customers and increase average basket size, as well as the challenges of competing with established players in the BNPL market and the possibility of regulatory challenges.
The Conversation of Huy and Efi section continues with a discussion on the opportunities and risks associated with Apple’s BNPL offering, Apple Pay Later. The opportunities mentioned include the potential for Apple to expand its platform and ecosystem, the long-term strategy of managing users’ digital lives and finances, and the possibility of increasing revenue from software sales and bundling hardware and software for businesses. The risks discussed include regulatory challenges, uncertainty surrounding privacy and data risks, the lack of a holistic understanding of users’ financial wellness, and the challenge of competing with established players in the BNPL market. They also mention the potential for Apple to enter the virtual world and increase its presence in the software and e-commerce sectors.
To conclude, we will recap the main points discussed in the course content, including the definition and history of BNPL, the popularity and benefits for consumers, and the considerations for merchants using BNPL. Moreover, mentioning the current landscape of the BNPL market and the potential for future growth.
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FAQ
CFTE’s brand new online learning platform! THINK produces and delivers dozens of bite-sized courses which will allow you to get a good understanding and be constantly updated about everything concerning Fintech!
Disruptive technologies and innovations don’t come on their own. They bring significant transformations and challenges both in terms of culture, people, jobs, environment and governance. Therefore we believe these topics can’t be separated from one another.
The courses offered on THINK have slightly different approaches to the topics. You’ll find evergreen foundational-level courses which will help you get a good understanding without any prior knowledge, but you’ll also find courses that explore the players in the respective ecosystems, courses that explore the regulations of a certain field and even courses that dive deep into specific companies’ way of operating!
THINK is meant for all those professionals who want to be kept up to date with the latest developments in these fields, but don’t necessarily have the time to go through countless articles or newspapers.
Technology is deeply transforming the way financial institutions do business and manage operations. Understanding these shifts will allow you to benefit from them, and not miss out on any potential opportunities for you and your organisation.
Users and customers nowadays are more aware than ever about the environmental and social impact of their choices, as a consequence companies are putting more attention on these topics even at the cost of reduced financial performances.
Digital Assets, Blockchain, Decentralisation and Web3 are still in a very early stage. They may reshape and revolutionise our current business models, therefore we believe it’s worth paying special attention to the innovations they bring to the table.
Understanding how technology works, its potential and its limitations is essential to properly embrace it and leverage it. Even non-technical professionals need to get a comprehensive understanding of these tools, as they will have an increasingly important role in our lives.
