Apple has reached a new agreement with Tencent that will allow the company to process payments and collect a 15% commission on purchases made inside WeChat mini games and mini apps on the iPhone, establishing a major new revenue stream in China after over a year of negotiations, according to Bloomberg.

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Under the arrangement, Apple will begin handling in-app payment processing for qualifying mini apps and mini games distributed inside WeChat, China’s dominant all-purpose mobile platform. Developers…