Under the deal, Apple will take a 15% commission on digital purchases — half its usual 30% App Store cut. The arrangement ends a long-running dispute between the two over WeChat’s in-app payment system, which for years allowed users to bypass Apple’s infrastructure entirely, and gives the iPhone maker a lucrative new revenue stream inside the most dominant app ecosystem in China.
The agreement is expected to require developers to comply with Apple’s software policies and close payment loopholes that previously directed users to external systems.
Tencent posted earnings today that beat analysts revenue and earnings expectations.
Under the deal, Apple will take a 15% commission on digital purchases — half its usual 30% App Store cut. The arrangement ends a long-running dispute between the two over WeChat’s in-app payment system, which for years allowed users to bypass Apple’s infrastructure entirely, and gives the iPhone maker a lucrative new revenue stream inside the most dominant app ecosystem in China.
The agreement is expected to require developers to comply with Apple’s software policies and close payment loopholes that previously directed users to external systems.
Tencent posted earnings today that beat analysts revenue and earnings expectations.
