Apple has terminated the Canadian market’s last option for interest-free financing of iPhones, Macs, and more.
Canada doesn’t have access to Apple Card or other financing options like iPhone Upgrade Program, but Apple customers did have a zero-interest finance option for a time. PayBright offered a zero-interest finance option in Canada as a subsidiary of Affirm, but that option is now gone.
Per Apple’s website, Affirm has taken over as the finance provider for Canada, and interest rates now apply. For Canadian customers purchasing an iPhone, the interest rates have been set to 7.99 percent over 24 months, while iPad and Mac are set at 4.99 percent over 12 months.
In another example of financial inequality between the Canadian and U.S. markets, Canadian customers are still unable to secure an Apple Card. The Apple Card launched in 2019 and still isn’t available anywhere outside of the U.S.
Stay tuned for additional details as they become available.
Via AppleInsider, Apple, and MacRumors