{"id":335369,"date":"2021-08-31T18:37:51","date_gmt":"2021-08-31T15:37:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/apple-google-to-lose-lucrative-payment-fees-under-new-law\/"},"modified":"2021-08-31T18:37:51","modified_gmt":"2021-08-31T15:37:51","slug":"apple-google-to-lose-lucrative-payment-fees-under-new-law","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/apple-google-to-lose-lucrative-payment-fees-under-new-law\/","title":{"rendered":"#Apple, Google to lose lucrative payment fees under new law"},"content":{"rendered":"<p>&#8220;<strong>#<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>le, Google to lose lucrative payment fees under new law<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Apple and Google will be forced to allow app developers to use alternative payment systems under a new law passed by South Korea\u2019s parliament Tuesday, threatening the companies\u2019 lucrative commissions that are facing antitrust scrutiny around the world \u2014 including in the US.<\/p>\n<p>TheSouth Korean bill \u2014\u00a0which is the first of its kind to pass in a major economy and\u00a0is expected to be signed into law by President Moon Jae-in \u2014\u00a0marks a hard-won victory for developers like Fortnite maker Epic <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>s who have argued for years that Apple and Google\u2019s payments systems are anti-competitive.<\/p>\n<p>And while South Korea is far from Apple and Google\u2019s most important market, some analysts say the country\u2019s new law will motivate antitrust regulators and politicians elsewhere in their efforts to reign in the companies\u2019 payments fees, putting billions of dollars in revenue at risk.\u00a0<\/p>\n<p>\u201cThis speaks to more regulatory scrutiny for Big Tech globally going forward both in the Beltway and Brussels,\u201d Wedbush Securities managing director Dan Ives told The Post. \u201cIt could have a ripple impact.\u201d<\/p>\n<p>Currently, Apple and Google require app developers around the world who distribute their apps through the companies\u2019 stores to use the tech giants\u2019 systems for in-app payments.\u00a0<\/p>\n<p>These systems charge commissions of up to 30 percent and bring in billions of dollars annually for both tech giants. They are at the center of antitrust fights in the US and Europe, as well as the closely-watched legal battle between Apple and Fortnite developer Epic Games.\u00a0<\/p>\n<p>Under the new South Korean law, called the \u201canti-Google law,\u201d\u00a0large app store operators will now be banned from forcing developers to use any particular payments system \u2014 all but guaranteeing that many will flee Apple and Google\u2019s payments systems for lower-priced alternatives.\u00a0<\/p>\n<p>If such rules were adopted on a wider scale, they would leave gaping holes in Apple and Google\u2019s balance sheets.<\/p>\n<p>Services revenue, which includes app store payment fees, generated $53.8 billion for Apple last year, making up about 20 percent of the company\u2019s total global revenue,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/google-apple-hit-in-south-korea-by-worlds-first-law-ending-their-dominance-over-app-store-payments-11630403335?mod=tech_lead_pos1\">according<\/a>\u00a0to the Wall Street Journal. Google\u2019s app store revenue store revenue, meanwhile, accounted for $21.7 billion, or about 12 percent of the company\u2019s total revenue.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/korea-google-apple-02.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"The legislation easily passed South Korea's parliament with the votes of 180 out of 188 lawmakers in attendance.\" class=\"wp-image-19299524\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/korea-google-apple-02.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/korea-google-apple-02.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/korea-google-apple-02.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The legislation easily passed South Korea\u2019s parliament with the votes of 180 out of 188 lawmakers in attendance.<\/figcaption><figcaption><span class=\"credit\">Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<p>In a statement to The Post, Apple slammed the South Korean law, arguing that letting app developers use non-Apple payment systems would put users in danger.<\/p>\n<p>\u201cThe Telecommunications Business Act will put users who purchase digital goods from other sources at risk of fraud, undermine their privacy protections, make it difficult to manage their purchases, and features like \u2018Ask to Buy\u2019 and Parental Controls will become less effective,\u201d the company said.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Google did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely reply to a request for comment but told Reuters that it would \u201creflect on how to comply with this law while maintaining a model that supports a high-quality operating system and app store.\u201d <\/p>\n<p>Meanwhile, developers that rely on the companies\u2019 app stores to distribute their products praised the South Korean law.<\/p>\n<p>A spokesperson for Match Group, which owns the popular dating app Tinder, lauded the bill as a \u201cmonumental step in the fight for a fair app ecosystem.\u201d\u00a0<\/p>\n<p>\u201cThe legislation passed today by the Assembly will put an end to mandatory in-app purchase in South Korea, which will allow innovation, consumer choice, and competition to thrive in this market,\u201d the spokesperson said.\u00a0<\/p>\n<p>The legislation easily passed in South Korea\u2019s parliament with the votes of 180 out of 188 lawmakers in attendance.\u00a0Companies that do not comply with the bill could be fined up to 3 percent of all their South Korea revenue.\u00a0<\/p>\n<p>In the US, bipartisan lawmakers are pushing bills that are similar to the South Korean measure.<\/p>\n<p>A pair of bills\u00a0introduced in the US House and Senate earlier in August\u00a0would bar Apple and Google from requiring app developers to use their payments systems.\u00a0<\/p>\n<p>\u201cFor far too long, companies like Google and Apple have had a stranglehold on app developers who are forced to take whatever terms these monopolists set in order to reach their customers,\u201d\u00a0said Republican Rep. Ken Buck of Colorado, who introduced the House version of the bill alongside Democratic Rep. Hank Johnson of Georgia.<\/p>\n<p>The Senate version of the law was introduced by Democratic Sens. Richard Blumenthal of Connecticut and Amy Klobuchar of Minnesota, as well as Republican Sen. Marsha Blackburn of Tennessee.<\/p>\n<p>Across the Atlantic, the European Union said last year that it is\u00a0investigating whether Apple and Google\u2019s app store payments policies\u00a0unfairly squash competition.\u00a0<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/08\/31\/apple-google-to-lose-lucrative-payment-fees-under-new-law\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Apple, Google to lose lucrative payment fees under new law&#8221; Apple and Google will be forced to allow app developers to use alternative payment systems under a new law passed by South Korea\u2019s parliament Tuesday, threatening the companies\u2019 lucrative commissions that are facing antitrust scrutiny around the world \u2014 including in the US. TheSouth Korean&#8230;<\/p>\n","protected":false},"author":1,"featured_media":335370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/korea-google-apple-hp.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[115157,111048,5029,5055,26293,39572,72420],"class_list":["post-335369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-31-21","tag-antitrust-law","tag-apple","tag-apps","tag-google","tag-monopoly","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/335369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=335369"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/335369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/335370"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=335369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=335369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=335369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}