Affirm (AFRM) Shares Are Falling Due To Apple: Here's Why The Stock Is Reacting - Apple (NASDAQ:AAPL), Affirm Holdings (NASDAQ:AFRM)

Affirm Holdings, Inc AFRM shares declined close to 5% after Apple Inc AAPL launched Apple Pay Later.
Apple Pay Later lets customers split a purchase into four equal payments over six weeks, with no interest or fees to pay.
Affirm Holdings, Inc. AFRM stock is reacting negatively to the news as it is a notable player in the Buy Now Pay Later (BNPL) market.
With Apple's entry, Affirm stands to lose market share, reckoning the number of active Apple devices that can use BNPL right from their smartphone.
Apple Pay Later enables contactless payments on iPhone bypassing additional terminals or hardware.
Now merchants can use their app to accept payment using Apple Pay, Apple Watch, contactless credit or debit cards, and smartphones with other digital wallets.
Also Read: Block's Afterpay Launches Fresh 'Buy Now, Pay Later' Solution To Tap Holiday Season Volumes
Apple Pay Later is available for purchases in apps and online when customers check out with Apple Pay.
The built-into Wallet helps customers easily track what they owe and when they owe it.
Using the Mastercard Inc MA network, Apple Pay Later works with Apple Pay and requires no integration for merchants.
Apple Pay Later enables payment to multiple merchants in a single transaction.
Price Action: AFRM shares traded lower by 6.16% at $9.59 on the last check Tuesday.
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Affirm Shares Are Falling Due To Apple: Here's Why The Stock Is Reacting