Архив метки: Apple Pay

US iPhone users spent, on average, $79 on apps last year, up 36% from 2017

Apple’s push to get developers to build subscription-based apps is now having a notable impact on App Store revenues. According to a new report from Sensor Tower due out later this week, revenue generated per U.S. iPhone grew 36 percent, from $58 in 2017 to $79 last year. As is typical, much of that increase can be attributed to mobile gaming, which accounted for more than half of this per-device average. However, more substantial growth took place in the categories outside of gaming — including those categories where subscription-based apps tend to rule the top charts, the firm found.
According to the report’s findings, per-device app spending in the U.S. grew more over the past year than it did in 2017.
From 2017 to 2018, iPhone users spent an average of $21 or more on in-app purchases and paid app downloads — a 36 percent increase compared with the 23 percent increase from 2016 to 2017, when revenue per device grew from $47 to $58.

However, 2018’s figure was slightly lower than the 42 percent increase in average per-device spending seen between 2015 and 2016, when revenue grew from $33 to $47, noted Sensor Tower.
As usual, mobile gaming continued to play a large role in iPhone spending. In 2018, gaming accounted for nearly 56 percent of the average consumer spend — or $44 out of the total $79 spent per iPhone.
But what’s more interesting is how the non-gaming categories fared this past year.
Some categories — including those where subscription-based apps dominate the top charts — saw even higher year-over-year growth in 2018, the firm found.

For example, Entertainment apps grew their spend per device increase by 82 percent to $8 of the total in 2018. Lifestyle apps increased by 86 percent to reach $3.90, up from $2.10.
And though it didn’t make the top five, Health & Fitness apps also grew 75 percent year-over-year to account for an average of $2.70, up from $1.60 in 2017.
Other categories in the top five included Music and Social Networking apps, which both grew by 22 percent.
This data indicates that subscription apps are playing a significant role in helping drive iPhone consumer spending higher.
The news comes at a time when Apple has reported slowing iPhone sales, which is pushing the company to lean more on services to continue to boost its revenue. This includes not just App Store subscriptions, but also things like Apple Music, Apple Pay, iCloud, App Store Search ads, AppleCare and more.
As subscriptions become more popular, Apple will need to remain vigilant against those who would abuse the system.
For example, a number of sneaky subscription apps were found plaguing the App Store in recent weeks. They were duping users into paid memberships with tricky buttons, hidden text, instant trials that converted in days and the use of other misleading tactics.
Apple later cracked down by removing some of the apps, and updated its developer guidelines with stricter rules about how subscriptions should both look and operate.
A failure to properly police the App Store or set boundaries to prevent the overuse of subscriptions could end up turning users off from downloading new apps altogether — especially if users begin to think that every app is after a long-term financial commitment.
Developers will need to be clever to convert users and retain subscribers amid this shift away from paid apps to those that come with a monthly bill. App makers will need to properly market their subscription’s benefits, and even consider offering bundles to increase the value.
But in the near-term, the big takeaway for developers is that there is still good money to be made on the App Store, even if iPhone sales are slowing.

US iPhone users spent, on average, $79 on apps last year, up 36% from 2017

N26 is launching its bank in the UK

Nearly a year after German fintech startup N26 announced that it would launch its service in the U.K., the company is launching in the U.K. N26 is already quite popular in the Eurozone, with more than 1.5 million customers. In this new market, it will face tough competition from existing players, such as Revolut, Monzo, Starling and many others.
N26 is going to roll out its product in multiple phases. Some lucky few will be able to open an account right away. The startup will then go through its waiting list — 50,000 people already left their email addresses to express interest. After that, anybody will be able to download the app and sign up.
This might sound like a convoluted process, but N26 expects a full public launch in just a few weeks. So it should be quite quick if everything goes as planned.
So what can you expect exactly? British customers will get all the basic N26 stuff with one killer feature — U.K. account numbers and sort codes. This way, customers will be able to receive payments and share banking information with their utility providers just like they would with a regular Barclays or Lloyds account.
When you open an N26 account, you get a true bank account and a MasterCard. Basic accounts are free, and N26 has a proper banking license — your deposits up to €100,000 are guaranteed by the European deposit guarantee scheme. You can then send and receive money and pay with your card. Sending money to other N26 users is instantaneous (they call it MoneyBeam).
N26 recently launched Spaces, a new feature that lets you create sub accounts and put some money aside. It’s still limited, but the company plans to add more features.
Your MasterCard works like any other challenger bank. Every time you use it, you receive a push notification. You can set payment and withdrawal limits, lock your card if you lose it and reset your PIN code. N26 will also bring Black and Metal plans to the U.K.
How does it compare to Revolut?
Let’s be honest, the elephant in the room is Revolut . The company has hundreds of thousands (if not over a million) customers in the U.K. N26 lets you do many of the things you can already do with your Revolut account.
So let me point out a few differences. As I noted, N26 has a banking license and U.K. banking information. N26 cards work in Apple Pay and Google Pay.
When it comes to international payments, N26 lets you pay with your card anywhere in the world without any additional fee. The company uses MasterCard’s conversion rates. Revolut first converts the money with its forex feature and then lets you spend your money.
There are an infinite number of forum posts about the exchange rates you’ll get. Sometimes Revolut is cheaper, sometimes N26 is cheaper. It mostly depends on the day of the week (Revolut conversion rates are more expensive on the weekend) and the currency. Unless you plan to spend tens of thousands of GBP during your vacation, you won’t see a huge difference on your bank statement.
Revolut also has many more features than N26. You can insure your phone, buy bitcoins, buy travel insurance, create virtual cards and more. It’s clear that N26 and Revolut have two different styles.
Revolut has a bigger user base than N26. But it’s always been a bit hard to compare them, as N26 wasn’t available in the U.K. Of course, they will both say there are tens of millions of people relying on old banks — multiple challenger banks can grow at the same time if they capture market share from those aging players. Still, the battle between N26 and Revolut is on.

N26 is launching its bank in the UK

Android Pay now works in Bank of America, USAA, Discover & other mobile banking apps

 Android Pay, Google’s answer to Apple Pay and other mobile payment technologies, today unveiled new partnerships with a handful of banks from around the world, who will integrate the service into their own apps. The feature will be available within the mobile banking apps provided by Bank of America, USAA, Bank of New Zealand, Discover, and mBank, says Google. This is the first time… Read More

Android Pay now works in Bank of America, USAA, Discover & other mobile banking apps