Apple to allow third-party payments for 1st time in S Korea

Top Stories

»	Sensex, Nifty end higher in volatile trade; metal and pharma stocks lead gains
»	Govt extends RELIEF scheme for risk coverage of export shipments due to Gulf war
»	Tesla India posts Rs 247 crore revenue in first fiscal of vehicle sales
»	Indian equities extend losses this week as Brent crude oil rises to 6-month high
»	Gujarat CM opens industrial fair to connect MSMEs, investors, manufacturers

SME Times News Bureau | 13 Jan, 2022
Apple will allow alternative payment systems in South Korea in compliance with a new local law that bans app store operators from forcing their own in-app payment systems, the country's telecommunications regulator said on Tuesday.

The move came as a new law went into effect in the country in September last year, restricting app store operators, such as Google and Apple, from forcing their in-app payment systems on developers.

In November, Google pledged to provide an alternative payment system on its app store in South Korea at a slightly reduced service charge in an apparent move to abide by the country's new law.

Apple said it plans to provide an alternative payment system at a reduced service charge compared with the current 30 percent charge, as the tech giant turned in its compliance plans to the Korea Communications Commission (KCC), reports Yonhap news agency.

The company did not provide the exact date of when the policy will take effect or the service fee to be applied but said it plans to discuss with the KCC on further details.

"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.

"Apple has a great deal of respect for Korea's laws and a strong history of collaboration with the country's talented app developers. Our work will always be guided by keeping the App Store a safe and trusted place for our users to download the apps they love," it added.

The KCC earlier announced app store operators will face a fine for forcing developers to use their own in-app payment systems.

South Korea was the first country to introduce such curbs on global giants' in-app billing policies, which have been increasingly under scrutiny around the world.