What you need to know
- Apple is ending its Barclays partnership.
- It will no longer offer the Barclaycard Financing Visa deal in-store or online.
- It will make Apple Card the sole focus of Apple's product-financing plans.
Apple has told employees it will end its card partnership with Barclays, and will no longer offer the Barclaycard Financing Visa deal in-store or online.
Apple Inc. on Tuesday ended its longtime card partnership with Barclays Plc, a move designed to focus attention on its own Apple Card product-financing plans. The Cupertino, California-based technology giant told retail employees in a memo that users will no longer have the option to apply for the credit card in retail stores or via the company's website starting Sept. 15, the same day it plans to announce two new Apple Watch models and a new iPad Air. Apple told staff that existing cardholders can keeping using the card as a normal credit card.
The report says that the Barclaycard Financing Visa deal will no longer be offered to customers in-store or online, the card offered buyers zero percent financing over a certain period depending on how much money they spent.
The report notes that this will let Apple focus solely on Apple Card, and its recently announced monthly installment plans.
Apple offers customers monthly installment plans on Apple Card on several of its iPhones (including 3% cashback), as well as Macs, iPads, and AirPods. Depending on the product, customers can pay over six or twelve months. The installments even cover some accessories like Apple Pencil, iPad Keyboards, and even the Pro Stand and VESA Mount Adapter for Mac Pro.