The BCG white paper outlines Apple’s evolving payments strategy, marked by three major moves: ending Apple Pay Later, adding installment payments via partners like Citi and Affirm, and opening NFC APIs in seven countries. These shifts strengthen Apple Wallet’s role in the iOS ecosystem, benefiting BNPL players with broader acceptance and challenging banks, PayPal, and Cash App to differentiate. Markets with high iPhone penetration—US, UK, Canada, Australia—will feel the biggest impact. Merchants may launch wallets to boost loyalty and speed checkout, while networks like Visa and Mastercard retain strong positions as transactions still settle on their rails. Apple aims to entrench Wallet as a central hub of digital life.

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