Third party app store developers must provide Apple with financial guarantees
Software

Third-party app store developers must provide Apple with financial guarantees of 1 million euros

Additional fees as explained 9to5Mac, will not be the only condition allowing third-party developers to install their app stores on Apple iOS devices in the European Union. As the source explains, third-party App Store developers must provide Apple with financial guarantees of 1 million euros annually.

    Image source: Unsplash, NordWood Themes

Image source: Unsplash, NordWood Themes

The guarantors of this transaction must be financial institutions with a credit rating of Level A, as specified in Apple’s rules, and the latter are guided in this regard by the rating system of S&P, Fitch or Moody’s. The guarantee is in the form of a letter of credit worth 1 million euros. It must be received by Apple before the developer has the right to distribute its own App Store on devices of that brand in the European Union.

Since each user must pay Apple 50 cents for the first installation of a third-party developer’s App Store within a year, the letter of credit described above is a guarantee of the seriousness of this developer’s intentions. App Store developers in the European Union must provide appropriate annual support if they want to continue to be able to distribute their software products in the Apple ecosystem, bypassing the official App Store. The new policy will come into effect in March with the release of iOS 17.4, but only in EU jurisdictions.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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