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iOS 18.4 adds a new way to track your spending — but I think Apple can go even further

iOS 18.4 adds a new way to track your spending — but I think Apple can go even further

  • 17.03.2025 08:41
  • tomsguide.com
  • Keywords: Apple

iOS 18.4 introduces a new feature in the Wallet app to track recurring payments via Apple Pay, but the author suggests that Apple could enhance this by creating a more comprehensive subscription management tool.

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Apple introduced a new feature in iOS 18.4 that tracks recurring payments through the Wallet app, enhancing users' ability to manage their spending.

Context

Analysis of iOS 18.4's New Spending Tracking Feature: Business Insights and Market Implications

Key Features Introduced in iOS 18.4

  • New Wallet App Menu: Includes a "Subscriptions & Payments" option, later renamed to "Preauthorized Payments."
  • Focus on Recurring Payments: Tracks payments for services like commuter cards or gym memberships using Apple Pay.
  • Separate from App Store Subscriptions: Currently does not include app subscriptions managed through the App Store.

Current Subscription Management Capabilities

  • Existing Methods:
    • Accessible via App Store (tapping user profile) and Settings (Apple Account section).
    • Lists active subscriptions with renewal dates and cancellation options.
  • Limitations:
    • Does not aggregate shared family subscriptions or in-app purchases.
    • Lacks a total spending overview for budgeting.

Business Insights

Market Trend: Increased Focus on Financial Management Tools

  • Apple's move aligns with the growing demand for integrated financial management tools, positioning it as a leader in personal finance tracking on mobile devices.

Competitive Dynamics

  • Enhanced User Experience: The feature improves user satisfaction by offering a centralized payment tracking system.
  • Potential Revenue Growth: Could attract users seeking better financial control, potentially increasing iPhone sales and ecosystem loyalty.

Strategic Considerations

  • Differentiation from Competitors: Apple's integration within iOS offers seamless access, unlike third-party apps that require additional downloads or sign-ups.
  • Third-Party App Impact: May reduce reliance on external financial management tools like Mint or Personal Capital, affecting their market share.

Long-Term Effects and Regulatory Implications

  • Potential Expansion: Future enhancements could include more detailed spending analytics, budgeting tools, and integration with Apple's ecosystem (e.g., HomeKit for smart home expenses).
  • Regulatory Scrutiny: As financial data becomes more centralized, regulators may scrutinize privacy and competition concerns.

Conclusion

iOS 18.4's new feature is a strategic step in enhancing user financial awareness, with potential to influence market dynamics and consumer behavior. While it doesn't fully meet all user needs yet, it sets the stage for future innovations in mobile financial management.