Apple has been dealt a major blow as a court in America ruled that Apple cannot stop app developers from directing users to third-party payment options.
This comes after Apple argued that all apps should use Apple’s own in-app payment options. The ruling could dent Apple’s fees, which can reach as high as 30% of in-app purchases.
Shares in Alibaba have also fallen after a report that its financial affiliate Ant Group is again under scrutiny.
Regulators want to break up Alipay, which is China’s biggest payments app with more than a billion users.
Timestamps:
- APPL 02:00
- BABA 04:00
