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Alphabet IncGOOGGOOGL 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.
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 IncAAPL 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 IncMETA over a 2018 ad deal.
In June, Danish online job-search portal Jobindexescalated 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.
