UK regulator considers opening Apple, Google app stores to rival payments - Reuters
UK regulator considers opening Apple, Google app stores to rival payments Reuters
The increasing scrutiny on tech monopolies and digital market regulations across Western economies is driving this action now.
This move by the UK regulator chips away at the entrenched power of platform owners, potentially fostering greater competition and innovation in digital payments.
The exclusive grip of Apple and Google on in-app payment processing could be loosened, allowing third-party payment providers to compete directly.
- · Alternative payment providers
- · App developers
- · Consumers (potentially lower fees)
- · Apple
Increased competition in in-app payment processing, potentially leading to lower fees for transactions.
App developers might see improved monetization options or reduced costs, fostering more diverse app ecosystems.
This could set a precedent for broader regulatory interventions into platform control over other digital services, impacting business models globally.
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Read at Reuters — Technology (Google News)