Apple discontinues its buy now, pay later service in the U.S.

Apple has shut down its buy now, pay later service known as Apple Pay Later, less than a year after launching it.

The service was discontinued in the U.S. as of Monday, ahead of Apple's launch of new Apple Pay features, set to hit iPhones this fall. The changes will let Apple Pay users make purchases, as well as access installment loans through Affirm. 

"With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S." Apple said in a statement to 9to5mac.