Apple has started paying out $100 million cash reserve created as part of a class-action settlement to its App Store developers.
The tech giant agreed to settle a lawsuit brought by the US developers concerned with App Store policies, in August 2021. The company agreed to create the Apple Smart Developer Assistance Fund as part of the settlement, which would pay out cash to affected developers, reports AppleInsider.
As per the report, several developers claim on Twitter that the company has begun distributing payments from the fund.
Developers had until May 20 to request to become “Settlement Class Members” from a separate administrator. The developers stood to get paid from $250 to $30,000 if they met the requirements.
All US based developers who sold paid apps or in-app purchases and subscriptions through the App Store between June 4, 2015 and April 26, 2021 were eligible for the fund.
Additionally, they had to generate revenue from the US storefront in each of the years between 2015 and 2021 that they held a development account that was equal to or less than $1 million.
Along with the fund, the settlement also brought about several changes to the App Store’s policies, such as new pricing tiers, modifications to developer and consumer communication, and a commitment by the tech giant to maintain its 15 per cent reduced App Store commission for at least three years.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)