Apple created a subsidiary to handle Pay Later loans

When its Pay Later service launches alongside iOS 16 later this year, Apple plans to handle lending decisions on its own. According to Bloomberg , the tech giant has established a subsidiary called Apple Financing to conduct credit checks and customer approvals. The new firm will operate separately from Apple, but it has obtained the necessary state licenses to offer the feature. While Apple has dabbled in financial services before, it did so with the help of institutions like Goldman Sachs. The...