Google Defers Indian In-App Commission Fees After Startups Complain | Technology News

BENGALURU (Reuters) – Alphabet Inc’s

Google has extended its deadline for Indian app developers to comply with a new billing system by six months to March 31, 2022, the U.S. tech giant said in a blog post on Monday.

Google also said https://india.googleblog.com/2020/10/google-plays-billing-system-update.html it was setting up “listening sessions” with leading startups to understand their concerns and establishing “policy workshops” to clear any additional questions after it said it will more strictly enforce a global policy and charge a 30% commission fee for in-app purchases, irking some developers.

In recent days, many startups in India have banded together to consider ways to challenge Google, including by lodging complaints with the government and courts. They are upset about the 30% commission fee and say several other Google Play Store policies hurt their businesses.

Google said the policy is not new and more than 97% of developers with apps on its app

Read More

Asia’s capital raising rush delivers record fees for banks in third quarter

HONG KONG (Reuters) – Asia’s equity capital markets generated a record pay day for investment bankers in the third quarter, bolstered by surging appetite for technology deals and a rush to list on China’s new STAR Market, Refinitiv data showed.

Asia Pacific, including Japan, saw bankers garner $3.6 billion in equity capital market (ECM) fees in July-September, up 145% from the same period a year earlier. The previous peak was $3.5 billion in the fourth quarter of 2009.

Bankers are also preparing to fatten their pay packets when Ant Group raises up to $35 billion in a dual listing in Hong Kong and Shanghai likely in October.

“Global capital markets are working. An enormous amount of money is available worldwide,” said Aaron Arth, head of the Asia ex-Japan financing group at Goldman Sachs. “All signs point to a steady desire and need for capital.”

Total equity market capital raised in

Read More

Apple won’t collect fees on paid Facebook events until 2021

Now, Apple has agreed to let Facebook Pay process all paid online event purchases. This means Facebook can absorb the cost, and Apple won’t get a cut. But this agreement only lasts until December 31st.

“Apple has agreed to provide a brief, three-month respite after which struggling businesses will have to, yet again, pay Apple the full 30 percent App Store tax,” a Facebook spokesperson said. Facebook will not collect fees until August 2021.

The other big catch is that Facebook Gaming creators are left out of the deal. They’ll still have to hand over 30 percent of earnings that come through the iOS app.

“Apple’s decision to not collect its 30 percent tax on paid online events comes with a catch: gaming creators are excluded from using Facebook Pay in paid online events on iOS,” said Vivek Sharma, VP of Facebook Gaming. “We unfortunately had to make this concession

Read More

Apple will temporarily stop taking a 30 percent cut on Facebook event fees

Earlier this year, Facebook launched a new feature that let small businesses create paid online events. The company framed it as a way of helping organizations struggling with lost revenue during the pandemic, and said that because of the exceptional circumstances, it would not collect any fees on purchases for these events until August 2021.

But the social network also stressed that any payments made on iOS would be subject to Apple’s standard 30 percent platform fees, noting this meant less money for small businesses. As Fidji Simo, head of Facebook’s main app, said at the time: “We asked Apple to reduce its 30% App Store tax or allow us to offer Facebook Pay so we could absorb all costs for businesses struggling during COVID-19. Unfortunately, they dismissed both our requests and [small businesses] will only be paid 70% of their hard-earned revenue.”

Read More

Coalition for App Fairness unites developers to fight Apple’s App Store fees and policies

The Coalition for App Fairness is comprised of many developers currently involved in high-profile disputes with Apple, as well as many who have been critical of the tech giant in the past.

Several big-name app developers have gathered together to form the Coalition for App Fairness, a non-profit organization seeking to highlight issues developers face when developing for Apple’s App Store.

Their website highlights that Apple makes more than $15 billion a year from its 30% app commission fee. They also point out that other “payment providers,” though it should be noted that Apple also provides hosting services and monitors apps for malicious code.

“We believe that every app developer is entitled to fair treatment and that every consumer should have complete control over their own device. Our App Store Principles will ensure a level playing field for platforms like Apple and a consistent standard of conduct across the

Read More