The company, whose programmers legendarily could not program a clock to adjust to summer time, apparently are finding Apple's ambitious financial software a bit tricky.
For those who came in late, last year Apple announced a couple of financial products which were granted a standing ovulation by the Tame Apple Press who claimed it was all ground-breaking, cutting edge, and would result in Apple taking over the financial system. Unfortunately, that was June 2022 and they could not be bothered ringing up Apple to find out where this software was.
Apple Pay Later was announced in June 2022 and was expected to land in September of the same year but has not been seen yet. Apple teamed up with Goldman Sachs to offer savings account for Apple Card customers in October but that didn't happen either.
Two other fintech projects a subscription program for iPhone hardware and an expansion for the non-existant Pay Later software, dubbed Apple Pay Monthly Installments. Both of these projects have reportedly been delayed due to "engineering challenges."
It looks like creating a next-generation financial platform to handle interest calculations, credit checks, and rewards is a bit too difficult for Apple programmers who are hiding under the desks to avoid deadlines rushing by them at such speed.
Apple Pay Later was tested with corporate employees a few weeks ago before being opened up to retail employees in some regions earlier this month. Gurman anticipates the feature to become generally available by March or April, without being tied to a specific iOS release. The release date for Apple saving accounts via the Goldman Sachs partnership remains unclear.
After Bloomberg reported on Apple's inability to get its Fintec products out on time, others in the Tame Apple Press actually ran stories claiming that Apple was "making headway" in most of its fintech initiatives and only pesky "engineering and technical challenges have deterred it from launching them publicly."
Looks like that it has gone the same way as the self-driving Apple car which were all going to be driving about now.
