Apple’s Project Breakout to launch a next-generation financial system is facing engineering difficulties which has led to it fintech endeavors being delayed, including two that are unannounced.
Over the past few months, Apple has unveiled a couple of financial services, but none of them have actually launched. Apple Pay Later was announced in June 2022 and was expected to land in September of the same year but was delayed. Similarly, Apple also collaborated with Goldman Sachs to offer savings account for Apple Card customers back in October but that initiative is yet to appear in a tangible form too. Now, it seems that both these projects as well as two others have been delayed further.
Bloomberg’s Mark Gurman has explained that two other fintech projects are currently in development at Apple too. These are a subscription program for iPhone hardware as well as an expansion for the Pay Later program, dubbed Apple Pay Monthly Installments.
