The impacts of regulatory changes to how app stores are allowed — or not — to restrict payment methods are finally being felt in a variety of different ways. Earlier this month, Google announced it will comply with South Korea’s directive to allow third-party payments in the Play and App Stores. Apple contends it is already in compliance with South Korea’s law. Of course, this comes on the heels of the Epic lawsuit that ruled Apple would also have to allow other payment options in its App Store — but Apple continues to appeal, and has yet to implement third-party payments. Meanwhile, Facebook is testing Apple’s limits by introducing new Creator Subscriptions. This allows creators to share custom subscription links and collect direct payments from fans keeping all the money except for taxes.
As the payment saga continues to play out, Apple launched iPhone 13, increasing its market share in several key markets. According to IDC, Apple overtook Xiaomi in Q3 to take second place after Samsung. Counterpoint Research showcased that Apple’s market share grew from 17.6% to 22.1%, in Europe. Not only is Apple growing its market share of global mobile devices, but Bernstein analysts also estimate the company may potentially add $1 billion in annual revenue thanks to its privacy changes — which some say position it to meet advertising demands as some social media platforms now struggle to do so.
And finally, App Annie released its annual mobile forecast — “2022: A World Transformed — 6 Mobile Forecasts to Help You Succeed” — and while interesting findings abound, the one that grabbed our interest was that thanks to Gen Z, mobile-first FinTech apps will grow by 160% in 2022. We see this trend playing out in our book of clients and the growth we’ve experienced in the FinTech sector. Learn more below.