The root for this issue has been identified and a permanent fix is on its way. Meanwhile, there are some steps that can be taken to fix the app. The steps are the following:
- Go to Settings App on your iPhone/iPad
- Go to Privacy
- Go to Location Services
- Look for Installments app in the app list
- Select the option "While Using the App"
After these five steps, launch the app. It should launch with no problem now.