SKorea becomes first country to curb GOOGLE, APPLE payment dominance…

• The South Korean parliament approved a bill on Tuesday that will ban major app store operators — like Google and Apple — from requiring developers to only use their payment systems to process the sale of digital products and services.
• Those policies usually require developers to pay Google and Apple a commission as high as 30% in every transaction.
• It means that developers will be able to avoid paying commission to Google and Apple by directing users to pay via alternate platforms.

South Korea’s parliament has approved a bill that will make it the first country to impose curbs on Google and Apple’s payment policies that force developers to only use the tech giants’ proprietary billing systems.

The legislation will become law once signed by President Moon Jae-in, whose party has been a vocal supporter of the bill.

Apple and Google’s policies usually require developers to pay the tech giants a commission as high as 30% of every transaction.

The bill, approved Tuesday, means that developers will be able to avoid paying commission to major app store operators — like Google and Apple — by directing users to pay via alternate platforms.

www.cnbc.com/2021/08/31/south-korea-first-country-to-curb-google-apples-in-app-billing-policies.html