'Apple Pay Later' Might Crush These Growth Stocks

Apple (NASDAQ: AAPL) is best known for its consumer tech devices like the iPhone, the iPad, the Apple Watch, and its Mac line of computers. But its services segment has been its largest source of growth in the last couple of years, and after securing a foothold in the entertainment industry with its music and video streaming platforms, it has turned some of its attention to creating a digital payments ecosystem.

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Apple Pay is used by over 500 million people globally, and at the company's Worldwide Developers Conference earlier this week, it revealed a new addition to the ecosystem: Apple Pay Later. The company's take on the installment-based lending concept known as "buy now, pay later" (BNPL) has been in the works since mid-2021.

Source Fool.com