Apple launches pay-later service, iPhone, Watch updates

The new payment feature, called Apple Pay Later, is a highly anticipated addition to the Wallet app

Apple Inc. unveiled a flurry of new software features and services at its Worldwide Developer Conference

an updated iPhone lock screen and a pay-later option that pushes the tech giant deeper into finance. 

The new payment feature, called Apple Pay Later, is a highly anticipated addition to the Wallet app. 

Bloomberg previously reported that the service was coming, part of an expansion into the finance world that also includes bringing more of its infrastructure in-house.

Monday’s announcement hurt shares of Affirm Holdings Inc., which offers a similar pay-later service.