fintechThe Verge· 7/22/2026, 7:13:21 PM8.0

iOS code could reportedly let Apple cut off apps when users miss iPhone payments

Code found in an iOS 27 beta would allow Apple to put a financed iPhone in “Restricted Mode” if it detects any missed payments, 9to5Mac reports. The finding follows a story from Bloomberg earlier this week claiming Apple is preparing to launch a new “Apple Upgrade” financing program for leasing new devices. iOS code could reportedly let Apple cut off apps when users miss iPhone payments A new ‘Partner Finance Lock’ would also block users from erasing or reselling devices that are in ‘Restricted Mode.’ A new ‘Partner Finance Lock’ would also block users from erasing or reselling devices that are in ‘Restricted Mode.’ iPhones in “Restricted Mode” would reportedly lose access to nearly all apps, except for basics like the Phone app, Settings, and the App Store. It uses a new “App Managed Features” system that allows financing or partner apps to continually check if a financed device is in good standing. According to 9to5Mac, the code also includes a new “Partner Finance Lock” intended to block users from “erasing, reselling, or stripping a restricted device for parts.” While the feature is part of Find My, it reportedly doesn’t give financing partners access to the phone’s location. This is from a beta version of iOS 27, so it’s possible this code and the new “Restricted Mode” could get changed or removed before Apple officially releases iOS 27. The “Apple Upgrade” program hasn’t been officially announced yet, either. Apple did not immediately respond to a request for comment. Most Popular - The Light Flip is a minimalist flip phone with a point to prove - Samsung’s wider Z Fold 8 feels just right - The FCC is planning to retroactively ban disguised DJI gadgets - Neill Blomkamp’s new zombie AI ‘film’ is just slop warmed over - Apple’s rumored ‘Upgrade’ program brings lease-to-own pricing for iPhones, Macs, and iPads

💡 AI analysis: By integrating device-level controls with financial services, Apple is positioning the iPhone as functional collateral for credit transactions, significantly deepening its ecosystem lock-in.
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