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Apple and Tencent have reached an agreement under which the American company will process payments and receive a 15% commission on purchases made in WeChat mini-games and mini-apps, Bloomberg reports.
Developers will now be required to follow Apple’s guidelines, including parental controls to limit children’s access to certain content. The commission rate is lower than the standard 30% charged by the App Store, providing Apple with a new revenue stream while freeing Tencent from handling payment processing.
Tencent President Martin Lau described the relationship with Apple as “very good.” WeChat has over a billion users in China, and Tencent’s social media and mini-game revenue in the third quarter totaled $4.5 billion.
ORIENT