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💵 Apple is shutting down Apple Pay Later

💵 Apple is shutting down Apple Pay Later

Plus US Sues Adobe Over Alleged Subscription Deception

Innovation Village
June 18, 2024

Today’s Menu ☕️

💵 Apple is shutting down Apple Pay Later, its buy now, pay later service
💵 Kenya sets aside $125.3 million to boost ICT sector initiatives in 2024/2025 fiscal year
👩🏾‍💻 US Sues Adobe Over Alleged Subscription Deception
🏥 Alma Clinics raises $2.8 million for expansion of nurse-driven primary healthcare network in South Africa

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💵 FINANCIAL SERVICES

Apple is shutting down Apple Pay Later, its buy now, pay later service

DAVIDO

Apple is shutting down Apple Pay Later, its buy now, pay later service as it looks at working with third parties for instalment loans.

Launched in the US last year, the current service allows consumers to split purchases into four payments over six weeks with zero interest and no fees. Users apply for Apple Pay Later loans ranging from $50 to $1,000, which could be used for online and in-app purchases made on iPhone and iPad with merchants that accept Apple Pay.

An Apple statement provided to 9to5Mac revealed that later this year, users will be able to apply for “installment loans” from credit cards, debit cards, and lenders when checking out with Apple Pay. This new service, available globally through iOS 18 on the Apple Pay platform, will allow users to continue managing open loans within the Wallet app..........continue reading

💵 ICT BUDGET

Kenya sets aside $125.3 million to boost ICT sector initiatives in 2024/2025 fiscal year

President William Ruto of Kenya

The Kenyan government has earmarked a substantial sum of $125.3 million to bolster initiatives within the Information, Communication, and Technology (ICT) sector for the fiscal year 2024/2025. This financial commitment was disclosed by Kenya’s Minister for the National Treasury, Njuguna Ndung’u, during a parliamentary session held on Thursday.

The allocation is set to finance various government-led projects under the stewardship of the ICT ministry. Among these projects, $8.5 million is designated for the development of government shared services, while $5.4 million is allocated for the construction of a digital superhighway. Additionally, the Kenya Advanced Institute of Science and Technology, situated within the Konza Technopolis, will receive $17.7 million.

In a bid to accelerate the construction of the Konza Technopolis City, the Kenyan government has allocated $11.5 million for the first phase of horizontal infrastructure development and a further $40 million for the establishment of the Konza Data Centre and Smart City Facilities, as outlined by Minister Ndung’u........continue reading

👩🏾‍💻 SOFTWARE

US Sues Adobe Over Alleged Subscription Deception

The U.S. Department of Justice has initiated legal action against Adobe, accusing the company of misleading consumers by concealing the early-termination fees and complicating the cancellation process of their subscriptions.

According to the complaint lodged on Monday, the DOJ asserts that “Adobe has harmed consumers by enrolling them in its default, most lucrative subscription plan without clearly disclosing important plan terms.”

The government contends that Adobe directed consumers toward its “annual paid monthly” subscription without adequately informing them that canceling within the first year would incur significant costs. The DOJ alleges that Adobe only reveals the early-termination fees when subscribers attempt to cancel, effectively trapping them in unwanted subscriptions using these fees as a “powerful retention tool.”…....continue reading

🏥 HEALTHCARE

Alma Clinics raises $2.8 million for expansion of nurse-driven primary healthcare network in South Africa

The Alma Clinics network, a South African enterprise of nurse-led primary healthcare facilities, has recently obtained a substantial investment of $2.8 million from IDF Capital through its Alitheia IDF Fund (AIF). This infusion of capital is set to propel the expansion efforts of Alma Clinics throughout the nation.

In a relatively short span, Alma Clinics has experienced swift growth, now operating six clinics that cater to the medical needs of over 4,000 patients each month. With the new funding, Alma Clinics is poised to escalate its reach, aiming to establish a total of 35 clinics across South Africa. This expansion is anticipated to enhance the availability of primary healthcare services in regions that are currently underserved, thereby improving health outcomes for a broader segment of the population…....continue reading