Moniepoint's Aggressive Hiring Spree: A Strategic Move to Scale Operations
Nigerian fintech unicorn Moniepoint is on a hiring spree, poaching top talent from Access Bank and Stanbic IBTC to deepen its bench and scale operations.
Riley King
Apple has announced the launch of its Advanced Commerce API, a new tool designed to support a wider range of in-app purchase formats, including subscriptions and content add-ons. The move is seen as a strategic effort to provide developers with more flexibility in their business models, while maintaining the company's existing commission structure.
The Advanced Commerce API is intended to facilitate billions of transactions annually, enabling developers to grow their businesses and provide a world-class customer experience. According to Apple, the new API will support three primary use cases: apps with large libraries of one-time purchases, apps offering creator-led content with subscription options, and apps selling add-ons within subscription services.
In an accompanying support document, Apple outlined the eligibility criteria for apps and developers to participate in the program. The company emphasized that the Advanced Commerce API is designed to support developers' evolving business models, which increasingly involve complex content catalogs, creator experiences, and subscription-based services.
The introduction of the Advanced Commerce API may be seen as a response to the company's previous dispute with creator platform Patreon. Last year, Apple requested that Patreon switch to the App Store billing system for creator content, prompting the company to begin migrating to Apple's payment system for its iOS app. The new API may be designed to better support use cases like Patreon's, which involve complex subscription and content add-on models.
The launch of the Advanced Commerce API also comes as Apple faces increasing pressure from regulatory bodies, such as the EU, to open up its platform to alternative payment processing and third-party app stores. In response, the company has been working to create more value for developers within its ecosystem, including the recent introduction of retro game emulators and a system for offering discounts to customers with lapsed subscriptions.
Industry analysts see the Advanced Commerce API as a strategic move by Apple to maintain its dominance in the app economy, while also providing developers with more flexibility and opportunities for growth. As the app market continues to evolve, Apple's new API is likely to play a critical role in shaping the future of in-app purchases and subscription-based services.
With the Advanced Commerce API, Apple is poised to further solidify its position as a leader in the mobile technology space, while also providing developers with the tools they need to succeed in an increasingly complex and competitive market. As the API begins to roll out, developers and industry observers alike will be watching closely to see how it impacts the app economy and the future of in-app purchases.
Nigerian fintech unicorn Moniepoint is on a hiring spree, poaching top talent from Access Bank and Stanbic IBTC to deepen its bench and scale operations.
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