You must have heard that there are two major app stores right now in the industry. One is from Google which is the Play Store while the other is from Apple named as the App Store. While the former lets you download Android apps, the latter lets you download and install iOS apps. Talking about the Apple App Store, we know that you can buy apps on the store which are paid. However, there is also an option to subscribe to your favourite apps on the Apple App Store.
We have now seen reports that Apple is introducing a new ‘grace period’ to the App Store. Basically, what it means that you will now have time between the end of your subscription and the renewal of a subscription. This is obviously applicable for auto-renewable subscriptions which renew on their own which might be a problem for users who don’t want to subscribe or renew their subscription.
Apple is also addressing the issue of lapsed payments with this ‘grace period’ feature. Apple says that developers were facing lapsed payments and the reason was not that the customers wanted to cancel their subscriptions. Rather, simple billing issues were causing lapsed payments such as expired credit cards, wrong or changed billing details as well as cancellation of credit cards. This feature will help developers retain more customers, Apple expects.
Apple, in a statement, said that:
We’ve worked closely with leading developers to create a solution for reducing customer churn while improving the experience for auto-renewable subscriptions. With the new grace period for unsuccessful auto-renewals, subscribers can continue accessing your app’s paid content while Apple attempts to collect payment — allowing them time to fix the issue. There won’t be any interruption to the subscriber’s days of paid service or to your revenue if payment is successful within the grace period.
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