Insights on Third-Party Banking Software Market within the Application Software Sector | Growing Use of Digital Payment Solutions to Emerge as a Key Driver | Technavio

LONDON–(BUSINESS WIRE)–The global third-party banking software market is expected to grow at a CAGR of over 8% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

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Many organizations are expanding their business in new geographies and acquiring new customers. The growth in the customer base has increased the number of online transactions, which has increased the demand for digital payment solutions. In addition, the rising number of customers seeking help with financial decisions and investments is contributing to the growth of the global third-party banking software market.

Third-Party Banking Software Market: COVID-19 Impact Analysis on Related Markets

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Third-Party Banking Software Market: COVID-19 Impact Analysis on Parent Market

The global application software market is the parent market of the third-party banking software market. Within its scope, the application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. Our report on the third-party banking software market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including FIS, Fiserv, Infosys, Oracle, and Temenos Headquarters.

Technavio’s research report on the third-party banking software market identifies

Apple Stops Selling Headphones and Speakers From Third-Party Companies Ahead of Rumored Smaller HomePod and AirPods Studio Launch

Apple is no longer selling headphones and wireless speakers from companies like Sonos, Bose, and Logitech, as it prepares to launch a new, lower-cost HomePod and AirPods Studio headphones.


According to checks performed by Bloomberg, Apple removed headphones and speakers from Bose, speakers from Logitech’s Ultimate Ears brand, and Sonos speakers from its online Apple Store at the end of September. Searching for these products, which were previously sold online and in retail stores, brings up no results.

Employees at Apple retail locations have also allegedly been asked to pull third-party audio products from shelves over the course of the last few days. Retail stores and the online store continue to offer Beats-branded headphones and speakers alongside Apple’s AirPods and ‌HomePod‌.

Apple has made similar moves in the past, eliminating stock of fitness trackers ahead of the launch Apple Watch. Apple told Bloomberg that it regularly makes changes to the products that it offers as new third-party accessories are released and the needs of customers change.

Rumors indicate Apple is working on several new audio products, including a smaller, lower-cost HomePod and high-end over-ear Apple-branded headphones that could be called “‌AirPods Studio‌,” to be sold alongside the ‌AirPods‌ and AirPods Pro.

Both of these new products are expected to launch before the end of the year, and the removal of the third-party audio products from the online store suggests we could be seeing Apple’s new audio devices soon, perhaps as soon as the iPhone-centric October event that’s rumored to be in the works.

Current rumors indicate that Apple has an event planned for October 13, and if that’s the case, we could see an Apple announcement as soon as tomorrow.

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Google to better enforce Play Store in-app purchase policies, ease use of third-party app stores

Under threat of regulation, Google announced today it’s updating its Google Play billing policies to better clarify which types of transactions will be subject to Google’s commissions on in-app purchases. While the more detailed language doesn’t actually change the earlier policy’s intention, it will impact a percentage of developers who don’t currently use Google Play’s billing system when selling digital goods in their app. In addition, the company announced it will make changes in Android 12 that will make it easier for users to install and use third-party app stores as an alternative to Google Play.

The company says that its current billing policies only apply to less than 3% of apps on Google Play. Of those apps, 97% already use Google Play’s billing library. That means there’s only a small percentage of apps that will need to come into compliance under the clarified terms.

To make the transition easier, app developers will be given an extended 1-year grace period to introduce Google Play’s billing library into their apps, had they previously skirted Google’s policies around digital purchases.

Google will also give some businesses impacted by the pandemic the ability to opt-out of its payment policies for the next 12 months. This could apply to those businesses that had to move their previously physical services online — such as live events.

Apple recently did the same for Facebook’s paid events business on the iOS App Store.

Like Apple, Google collects a 30% commission on in-app purchases.

Google also said it won’t limit developers’ ability to communicate with customers, including about alternative ways to pay — in stark contrast with Apple.

“To clarify, Google Play does not have any limitations here on this kind of communication outside of a developer’s app. For example, they might have an offering on another Android