Experian adds Apple Pay Later loan info to credit reports

Ellie Duncan
01 Mar 2024

Credit reporting agency Experian has confirmed it will include “pay-in-four” buy now, pay later (BNPL) loan information from Apple ‘Pay Later’ on consumers’ credit reports to encourage responsible lending.

It makes Apple the first major BNPL provider to supply “pay-in-four” loan information and payment history directly to Experian.

Apple ‘Pay Later’ loans borrowed from now on will appear on a consumer’s Experian credit report with a BNPL designation, effective 1 March.

While the information will not yet be factored into existing traditional credit scores, Experian confirmed this could change in the future as it develops new credit scoring models.

“We designed Apple Pay Later with our users’ financial health in mind, and an important part of this is ensuring that their loans are reflected in their overall financial profiles,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet.

“By reporting Apple Pay Later loans to Experian, we aim to help promote greater transparency and responsible lending for both the borrower and the lender, while providing users with the opportunity to further build their credit.”

Experian has promised that once BNPL account information becomes more widely reported to it by other BNPL providers, a consumer’s BNPL history will be visible to lenders who request an Experian credit report.

“Experian has long supported the use of expanded data sources, including BNPL information, to help consumers build their credit profile and improve their financial health,” added Jennifer Schulz, chief executive officer of Experian North America.

“We applaud Apple for taking this meaningful first step and look forward to working with other leading BNPL providers to drive greater transparency that will benefit lenders and consumers alike.”

Last year, Experian launched a cloud-based fraud solution powered by machine learning, called Aidrian.

The launch came after Experian’s own research identified fraud as the top priority for 73% of business respondents.