Apple shares are falling by 2.8% on the back of a California court’s decision that it can no longer block the use of other payment systems on its platform. This is evidenced by the data of the New York Stock Exchange.
According to the existing procedure, all payments in the Apple digital store are made through the company’s payment system. For the right of developers to sell applications and products inside them on their own platform, Apple charges from 15% to 30% from each transaction. In August 2020, Epic Games integrated their payment system into the Fornite version of the game, distributed through the Apple platform, through which funds went directly to the developer, and Apple did not receive any commission. Apple has filed a lawsuit demanding to ban Epic Games and other developers from creating their own payment systems.
However, the court did not agree with Apple. He ruled that Epic Games should pay the penalty in the amount of 30% of the revenue received through the sale through its own payment system, but at the same time decided that the requirement for developers to use exclusively the Apple payment system when purchasing digital goods on the devices of this company is contrary to antitrust law. Thus, developers can now use their own payment systems and third-party payment systems when selling applications in the Apple digital store.
The court’s decision may become a precedent for the operation of digital stores on other platforms, end the exclusivity of payment systems, and lead to lower prices. At the same time, the store owner’s interest in his work is lost – Apple and other companies will have to look for other ways to monetize their platforms.