Apple is celebrating the 10th anniversary of its mobile payment service, Apple Pay, announcing that its service will evolve in the near future and provide additional features, alongside expanded instalment loan options.
As part of its global rollout, Apple will partner with DBS Bank in Singapore, granting access to instalment loan options for eligible credit or debit cards. Options outside of Singapore also include ANZ in Australia, Citi and Synchrony in the United States, and CaixaBank in Spain.
This news follows Apple’s decision in June to roll back plans for its Pay Later feature, instead prioritising partnerships with local financial institutes worldwide. This would allow banking partners to stay connected with Apple Pay instead of competing with the Cupertino giant directly.
In addition, Apple Pay users in Singapore will soon be able to redeem rewards when they check out with Apple Pay online or in-app on iOS devices. This feature is steadily being rolled out for eligible DBS cards locally but has already kicked off for users in the U.S. with iOS 18, with the ability to see their PayPal balance when using their PayPal debit card coming to Apple Wallet next year.
On the Apple Newsroom, Jennifer Bailey, Vice President of Apple Pay and Apple Wallet, expressed excitement about providing users with more ways to pay and offering enhanced flexibility, while maintaining the high levels of trust and security that users expect.
“From the outset, we envisioned a world where you could use your iPhone to seamlessly pay for everything, all while keeping your personal and financial information safe and private,” said Bailey.
Apple Pay is currently used worldwide by hundreds of millions of consumers across 78 markets, available on millions of websites and physical storefronts, and is supported by more than 11,000 bank and network partners. The platform can now be accessed on third-party browsers and computers.
Kevin is a reformed PC Master Race gamer with a penchant for franchise “duds” like Darksiders III and Dead Space 3. He has made it his life-long mission to play every single major game release – lest his wallet dies trying.
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