Apple is shutting down Apple Pay Later, its buy now, pay later service, the company confirmed to 9to5Mac. The service, which lets you take out “pay later” loans that can be paid in four payments over six weeks, only launched fully in the US in October 2023. In its place, Apple says that users will be able to apply for “installment loans” from credit cards, debit cards, and lenders when checking out with Apple Pay later this year.

Here is Apple’s full unsigned statement, which was given to 9to5Mac:

Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay. With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the U.S. Our focus continues to be on providing our users with access to easy, secure and private payment options with Apple Pay, and this solution will enable us to bring flexible payments to more users, in more places across the globe, in collaboration with Apple Pay enabled banks and lenders.

Apple didn’t immediately reply to a request for comment from The Verge. An Apple support document notes that “Apple Pay Later is no longer offering new loans” but says that “existing Apple Pay Later loans and purchases are not affected.”

Apple Pay Later was originally announced alongside iOS 16, but it wasn’t part of the initial iOS 16 release. The company rolled out in early access invitations to “randomly selected users” in March 2023 before finally launching the service widely in the US in October.

Update, June 17th: Added details from a support document.