Facebook decides Apple’s App Store tax on its initiative to support small businesses during pandemics

(NASDAQ: AAPL) to reduce its 30% App Store commission, alternatively using Facebook Pay so it can absorb costs on behalf of wrestling companies that were hit by the pandemic. “data-reactid =” 21 “> Head of Facebook App, Fiji Simo, said in a statement that he had asked Mark Zuckerberg-led company Apple Inc. (NASDAQ: AAPL) to reduce its 30% App Store commission, or alternatively use Facebook Pay so it can absorb costs on behalf of wrestling companies that were hit by the pandemic.

“Unfortunately, they have rejected both our applications and SMEs will only pay 70% of their hard earned income,” the executive wrote, referring to small and medium-sized businesses.

The Facebook initiative was launched on Friday, and lets companies, makers and others earn money by hosting online events on their platform.

Why it matters

Apple’s policy of collecting a 30% cut has led to accusations of anti-competitive practices by various companies. Last week, Epic Games Inc., the maker of “Fortnite,” took it to court over the removal of the popular game from the App Store.

The lawsuit overturned the practices of Cupertino-based tech behemoth and argued, “Apple is bigger, more powerful, more entrenched and more humiliating than monopolies of yesteryear.”

Telegram, a messaging app, also claims that Cupertino preferred to launch its gaming platform in 2016.

Price action

Facebook and Apple both share Friday lower at $ 261.24 and $ 459.63, respectively, on Friday.

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