Triumph in adversity: Apple’s payment system opportunity | #ios | #apple | #iossecurity

Every business owner accepts that sometimes they must swallow disappointment and prepare for unavoidable change, which seems to be what Apple is preparing for in terms of App Store payments. And it may unleash a new opportunity as it does.

Opening up App Store payments

Apple is under so much pressure around App Store payments. It has made numerous arguments to justify why its own payment systems should be mandatory on App Store sales, but courts in South Korea and the US do not agree. The company continues to face regulatory investigations in multiple nations.

To keep developers happy, Apple continues to tweak the way its systems work, including reducing commissions from 30% to 15% for most developers and promising to let developers offer other ways to pay. But the demand to support external payment systems remains.

Principally, competitors, developers, and critics want the company to permit customers to purchase digital product using payment systems other than its own.

Test case: South Korea

In South Korea, a law now requires all App Store platforms to support multiple payment systems. In a recent statement, Apple said it would comply with the law, issuing a statement in which it said:

“Apple has a great deal of respect for Korea’s laws and a strong history of collaboration with the country’s talented app developers. We look forward to working with the KCC and our developer community on a solution that benefits our Korean users.

“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.”

Apple hasn’t explained how or when it will support alternative payment systems, but has apparently filed a plan with South Korean regulators.

Copyright © 2022 IDG Communications, Inc.

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