• Sun. Apr 14th, 2024

Google Bows Down To EU Tech Rules, Cuts Commission In Google Play App Store

ByAnusuya Lahiri

Jul 20, 2022
Google Bows Down To EU Tech Rules, Cuts Commission In Google Play App Store

  • Alphabet Inc GOOG GOOGL Google looks to slash its commission from 15% to 12% for non-gaming app developers on its Google Play App Store, which switches to rival payment systems, as it moves to comply with new EU tech rules.
  • Google said the fee cut applies only to European consumers.
  • It will expand the freedom to use another payment system for gaming apps.
  • Also Read: Here’s How PayPal Helped Trigger EU Antitrust Allegations Against Apple
  • The EU rules, known as the Digital Markets Act (DMA), will be effective in 2023, requiring tech giants to allow app developers to use rival payment platforms for app sales or risk fines of as much as 10% of their global turnover.
  • Apple Inc AAPL and Google faced flak for exorbitant mobile app store fees underscoring their monopoly power.
  • In the last decade, Google suffered over €8 billion in EU antitrust fines for anti-competitive practices related to its price comparison service, Android mobile operating system, and advertising service.
  • In March, EU and UK antitrust regulators launched investigations into Google and Facebook parent Meta Platforms Inc META over a 2018 ad deal.
  • In June, Danish online job-search portal Jobindex escalated antitrust allegations against Google to European Union regulators.
  • Price Action: GOOG shares traded lower by 0.13% at $114.47 in the premarket on the last check Wednesday.
  • Photo by more photos boosty.to/victoria_art_music from Pixabay

Image and article originally from www.benzinga.com. Read the original article here.