Apple Strikes WeChat Deal With Tencent, Will Earn 15% From Purchases In Mini Games, Apps: Report
Synopsis
The iPhone maker had demanded that Tencent fix the loopholes used by app makers to direct users to external payment services, circumventing the 30% app store commission charged by Apple.
Apple Inc. (AAPL) and Tencent Holdings have reached a deal, allowing the iPhone maker to take a 15% cut in exchange for handling payments.
According to a Bloomberg report citing sources familiar with the matter, Apple will receive a 15% cut of purchases of mini games and apps within the WeChat app. Apple and Tencent were in negotiations over this issue for more than a year.
The iPhone maker had demanded that Tencent fix the loopholes used by app makers to direct users to external payment services, circumventing the 30% app store commission charged by Apple.
Apple shares were up 0.2% in Thursday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.
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