Apple Pay Later Just Crushed Affirm's Dreams, but It's a Nice Win for 2 Fintech Giants

Apple (NASDAQ: AAPL) gets the world's attention when it holds its developers' conferences, as consumers, suppliers, and tech professionals all look forward to the latest innovations from the iPhone maker. Yet while many pay the closest attention to the latest product releases, the announcement on Monday of its Apple Pay Later service sent shockwaves across the fintech space.

Buy now, pay later (BNPL) specialists like Affirm Holdings (NASDAQ: AFRM) were the most obvious targets of Apple's move. Indeed, Affirm's stock fell 5.5% on Monday, with much of the decline coming after the conference announcement. However, Apple Pay Later further cemented a key partnership between the technology pioneer and two leading players in the financial industry, and that could pay big benefits for them for years to come.

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Source Fool.com