Tim Cook Finally Takes His Foot Off The App Store Hose: External Payment Platforms Now Accessible For US Developers
Portfolio Pulse from Benzinga Neuro
Apple Inc. (NASDAQ:AAPL) has updated its App Store policies to allow U.S. developers to use external payment platforms. Developers will pay Apple a 27% fee, reduced from the standard 30%, or 12% for those in the App Store Small Business Program. The policy change follows the Supreme Court's decision not to hear Apple's appeal in the Epic Games case, leading to the end of anti-steering rules. Epic Games' CEO Tim Sweeney criticizes the new policy as 'anticompetitive'.
January 17, 2024 | 1:10 pm
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Apple Inc. has revised its App Store policies to allow external payment options for U.S. developers, with a reduced fee structure. This change is a result of legal pressure from the Epic Games v. Apple case.
While the policy change allows for external payment platforms, Apple still imposes a fee, albeit reduced. This may not significantly impact Apple's revenue as the fee remains substantial. The news is highly relevant to Apple but its importance is moderate as it doesn't drastically alter the App Store's business model. The confidence in this analysis is high due to the clear details provided in the article.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100