This is a surprise after Apple just announced their own BNPL product.
"While nearly every Apple product can be financed using Apple Card in the US, only the iPhone, iPad, and Mac will be supported through this Affirm partnership in Canada.
The report adds that the program will be powered by PayBright, which is a Canada-based “buy now, pay later” service that was acquired by Affirm last year for over $260 million."
Surprising and confusing but not.
Affirm not only has a 4x interest free instalment BNPL service but also interest bearing longer term instalment financing.
I think they want to launch their own 4x interest free BNPL Apple Service but use the interest bearing Affirm partnership for longer term repayment options.
… and then there’s what Apple can offer in US vs RoW. My God that sounds unbelievably pathetic that Apple doesn’t have a global solution for its Apple Card which is merely available in the US.
No wonder there was room in the market for an Afterpay who could get their act together.