Apple’s rumoured iPhone hardware subscription service is reportedly facing further delays together with other financial services that the company are allegedly developing. According to reliable tipster Mark Gurman, the slow progress and “missed deadlines” are due to “engineering and technical setbacks”.
Writing in his popular Power On Newsletter on Bloomberg, Gurman revealed that Apple has four financial services projects in the works, all of which are delayed. These include the already announced Apple Card Savings Account and Apple Pay Later, as well as the “Apple Pay Monthly Instalments” and iPhone subscription programme which are yet to be unveiled.
Gurman said that these financial services programmes are part of “Project Breakout” and is “one of the most ambitious parts of Apple’s finance efforts”. Moreover, the tech giant is developing its own technology for “handling interest calculations, rewards, credit checks, approvals and transaction histories”. All of these things are currently overseen by partners instead of by Apple itself.
Nevertheless, Gurman did iterate that these financial services are indeed coming, with the first one set to be Apple Pay Later that’s expected to launch by April 2023. Of course, do take this with a grain of salt as nothing is confirmed as of yet.
So, what do you guys think of Gurman’s predictions? Share your thoughts with us in the comments below and as always, stay tuned to TechNave for the latest tech news.