United Kingdom, Nov. 14 -- Apple and Tencent have reportedly reached a landmark agreement that will see Apple take a 15 per cent cut on in-app purchases made within WeChat mini games and apps on iPhone.

According to Bloomberg, the deal ends more than a year of tense discussions over payment compliance.

Apple has reportedly been pressuring Tencent to close long-standing loopholes that allowed developers to direct users to external payment methods, bypassing the App Store's standard 30 per cent commission.

Under the new framework, Apple will process payments directly and collect half its usual fee, gaining access to one of China's fastest-growing digital ecosystems.

To participate, Tencent's developers must adopt certain Apple software ...