Apple lets South Korean developers use third-party payment systems, will take 26% cut
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Apple (NASDAQ:AAPL) said on Thursday that app developers in South Korea are now able to use third-party payment systems, bypassing the company's own offering, but it will still take a cut.
As part of an update posted to its website, Apple (AAPL) said it will ask developers to provide a monthly report "recording each sale of digital goods and content" and will take a 26% commission on each transaction, compared to the 15% to 30% range it currently takes on app sales and in-app transactions that use its own in-app payment system. 
The company added that developers can still continue using Apple's (AAPL) in-app purchase system and they do not need to take any additional action to do so.
Apple (AAPL) shares fell roughly 1% in mid-day trading on Thursday.
The change in policy comes after Apple (AAPL) was forced by law to allow South Korean developers offer third-party payment systems.
Apps that have third-party payment options will have a popup that reads: "This app does not support the App Storeâs private and secure payment system."
Apple also added in the text that it is "not responsible for the privacy or security of transactions made with this developer."
In-app payments have been a source of contention for Apple (AAPL) and several developers, including Fortnite maker, Epic Games, which sued Apple (AAPL) over the issue.
Wedbush Securities recently said demand for Apple's (AAPL) iPhone is "holding up slightly better than expected," despite fears to the contrary.