Apple Inc.’s expansion into buy-now pay-later financing could be just the beginning of an attempt to shake up the traditional payments system.
The consumer-electronics giant has made other ventures into financial services before, including through its Apple Pay payment technology and a co-branded credit card done with Goldman Sachs Group Inc. GS. However, Apple’s AAPL BNPL launch, announced in June at its WWDC developer event, is notable because the company has decided to take on lending functions itself through a new in-house…