OAKLAND, Calif. (AP) — Longtime Apple executive Phil Schiller on Wednesday acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app...
OAKLAND, Calif. — Longtime Apple executive Phil Schiller on Wednesday acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app store hasn't done much to increase competition — a shortcoming that could result in a federal judge demanding more changes.
That shake-up threatens to undercut Apple's own lucrative in-house payment system, which generates billions of dollars annually through commissions ranging from 15% to 30% of the purchase amount on digital transactions completed within iPhone apps. In the five hearings held on the issue so far, Gonzalez Rogers has repeatedly sounded frustrated with Apple executives while occasionally asking questions suggesting she thinks the iPhone maker is mostly focusing on how to preserve its profit margins and corral most payments to its in-house system.
During his Wednesday testimony, Schiller repeatedly defended Apple's response to the judge's order as well-intentioned to allow more competition while protecting the privacy and security of users. Schiller said the facts emerging in the hearings — all of which he has attended — have prompted him to create “an action item” to prod more iPhone apps to take advantage of external payment options.EVs are improving but you might want to lease rather than buy. Here's why.Adobe Lightroom's new AI tools make photo editing easier, allowing you to erase a crowd and fix other mistakesCombined capital investment at the two enormous tech companies is expected to exceed $100 billion next year.
Apple Iphone App Store Iphone Apps Digital Transactions Payment System Epic Games Gonzalez Rogers
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