00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple announced Tuesday that third-party app stores in the European Union
00:06will pay a 5% commission on in-app purchases
00:09under new rules taking effect October 1st, according to CNBC.
00:14Apps using Apple's app store and payment system will pay 26%,
00:18while apps using their own payment processing will pay 20%.
00:23Apps that send users to a website for purchases
00:25will pay Apple a 15% commission,
00:28while apps distributed outside the app store will pay 5%.
00:32The tech giant has faced lawsuits and regulatory scrutiny
00:36over its app store model,
00:37which historically required iPhone apps to use the store
00:40and charged commissions of 15% or 30%.
00:44Apple is fighting U.S. efforts to allow web-based payments
00:47and has proposed charging a 15% commission
00:50on purchases made through external links.
00:52For all things money, visit Benzinga.com.
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