SME Times is powered by   
Search News
Just in:   • Sensex, Nifty settle 1% low; US Fed's policy guidance weighs  • Asian markets tumble to 15 month lows  • Liquor manufacturers asks Kerala Govt to tweak commision conditions  • With Air India on-board, Tatas emerge as major aviation players  • Budget 22: Capex likely to focus on jobs creation, PLI expansion 
Last updated: 13 Jan, 2022  

Apple.9.Thmb.jpg Apple to allow third-party payments for 1st time in S Korea

Apple.9.jpg
   Top Stories
» Budget 22: Capex likely to focus on jobs creation, PLI expansion
» Boost to disposable incomes via tax cuts will spur demand for consumer durables
» Incentivise investments in healthcare sector: Pre-Budget survey
» Experts exhort Centre to regulate crypto trades
» Rajpath brims over with patriotic fervour as India celebrates R-Day
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.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 Jan, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter