Apple unveiled a payment option where you can pay in instalments with no fees or interest at its worldwide developers conference. This means that people will be able to use the feature anywhere Apple Pay is accepted.
Shopify is slated to be the first company to use it with the service being restricted to the US at this stage. The reaction on the market saw Apple shares eke out a gain of 0.5 per cent on Wall St while Affirm tumbled 5.5 per cent.
This means that ASX listed buy-now, pay-later companies could feel some pain today.
Stocks to watch are companies that have derive a revenue stream from providing buy-now pay-later services in America. Keep an eye out for Square (ASX:SQ2)
, Zip Co (ASX:Z1P)
, and Sezzle (ASX:SZL)