App Store

Reuters | |

A South Korean parliamentary committee voted early on Wednesday to recommend amending a law, a key step toward banning Google and Apple from forcibly charging software developers commissions on in-app purchases, the first such curb by a major economy.

Apple Inc and Alphabet Inc's Google have both faced global criticism because they require software developers using their app stores to use proprietary payment systems that charge commissions of up to 30%.

Kimberly Redmond | |

A bipartisan Senate bill introduced Wednesday seeks to bring more competition to the app store market currently dominated by Apple Inc (Nasdaq: AAPL) and Alphabet Inc’s (Nasdaq: GOOGL) Google.

The Open App Markets Act, which was sponsored by Senators Richard Blumenthal (D-Conn), Amy Klobuchar (D-Minn) and Marsha Blackburn (R-Tenn), aims to change up the business model of both companies' app stores as well as the structure of their mobile operating systems.