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  • Meta begins blocking news access on its platforms in Canada | CNN Business

    Meta begins blocking news access on its platforms in Canada | CNN Business

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    Washington
    CNN
     — 

    Meta has begun to remove news content from Facebook and Instagram in Canada, the social media giant said Tuesday, in response to recently passed legislation in the country that requires tech companies to negotiate payments to news organizations for hosting their content.

    As a result of the move — which Meta had previously said would occur before the law takes effect — Meta’s Canadian users will no longer be able to click on links to news articles posted to Facebook and Instagram.

    The changes began Tuesday and will roll out gradually over the coming weeks, said Meta spokesperson Andy Stone.

    The decision comes amid a global debate over the relationship between news organizations and social media companies about the value of news content, and who gets to benefit from it.

    Google has also announced that it plans to remove news content from its platforms in Canada when the law takes effect, which could happen by December.

    The Canadian legislation, known as Bill C-18, was given final approval in June. It aims to support the sustainability of news organizations by regulating “digital news intermediaries with a view to enhancing fairness in the Canadian digital news marketplace.”

    It comes after the passage of a 2021 Australian law that the tech platforms initially opposed by warning it would similarly force them to remove news content. Since then, the platforms have reached voluntary agreements with a range of news outlets in that country.

    Like-minded proposals have been introduced around the world amid allegations that the tech industry has decimated local journalism by sucking away billions in online advertising revenues.

    In May, Meta also threatened to remove news content from California if the state moved ahead with a revenue-sharing bill. The legislation was put on hold last month.

    And at the federal level, the US Senate in June advanced a bill that would grant news organizations the ability to jointly negotiate for a greater share of advertising revenues against online platforms, thanks to a proposed antitrust exemption for publishers and broadcasters.

    In a blog post Tuesday, Meta said the Canadian legislation “misrepresents the value news outlets receive when choosing to use our platforms.”

    “The legislation is based on the incorrect premise that Meta benefits unfairly from news content shared on our platforms, when the reverse is true,” the blog post said. “News outlets voluntarily share content on Facebook and Instagram to expand their audiences and help their bottom line.”

    Canadian users of Meta’s platforms will still be able to access news content online by visiting news outlets’ websites directly or by signing up for their subscriptions and apps.

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  • Apple launches buy now, pay later service | CNN Business

    Apple launches buy now, pay later service | CNN Business

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    New York
    CNN
     — 

    Apple on Tuesday launched an option in its digital wallet allowing customers to pay for online purchases in installments, making it the latest company to embrace the buy now, pay later trend.

    The new feature, called Apple Pay Later, lets customers split payments for purchases into four installments over six weeks, with the first installment due at the time of purchase. Apple users can also apply for a loan within the Wallet app, ranging from $50 to $1000, with no interest or fees, to make online or in-app purchases.

    The payment option is rolling out to select users in the United States now, with plans to offer it to all eligible customers over the next several months, according to a company release. Apple first teased the feature last year.

    Apple’s move comes as a growing number of consumers have turned to buy now, pay later services to stretch their budgets at a time of high inflation and broader economic uncertainty. Other popular services that offer the same payment option include Affirm, Klarna and Afterpay.

    But some economists and consumer advocates have raised concerns that these services could cause shoppers to take on more debt.

    The installment process makes it seem like someone is paying practically nothing for the goods or service they’re acquiring, Terri R. Bradford, a research specialist in payment systems for the Kansas City Federal Reserve, previously told CNN. “So the possibility is that you could, in your mind, think of everything that you’re buying in those four installments and, as a result, take on more debt than you would if you had to pay for them in full each and every time.”

    But Apple says the new feature is “designed with users’ financial health in mind.”

    “There’s no one-size-fits-all approach when it comes to how people manage their finances,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, in Tuesday’s release. “Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later.”

    Apple users will be able to track and manage upcoming loan payments in the Wallet app. Any loan application can also be done in the app with no impact on credit, according to the company.

    Apple’s Pay Later option is enabled through the Mastercard Installments program.

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