Apple has submitted plans to allow third-party payment systems on its App Store to comply with a law banning major app store operators from requiring software developers to use their payments systems, South Korea’s telecommunications regulator said on Tuesday.
Apple’s App Store on iPhone
“We look forward to working with the KCC and our developer community on a solution that benefits our Korean users,” Apple said in a statement, but did not provide details such as timeline of when the new payment systems will take effect or commission fee rates.
The KCC said Apple plans to allow alternative payment systems for a lower service fee versus the current 30% commissions.
Apple said it paid developers a total of $260 billion through its App Store since its launch in 2008, implying a $60 billion payout to developers in 2021.
Technovanguard Take: It’s a good thing that only intended consequences result from government meddling.
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