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Apple requires €1,000,000 letter of credit to open a third party app store.
Apple today officially announced support for third-party app stores in the European Union, as part of iOS 17.4. In a...
Apple today officially announced support for third-party app stores in the European Union, as part of iOS 17.4. In order to establish adequate financial means to guarantee support for developers and customers, marketplace developers must provide Apple a stand-by letter of credit from an A-rated (or equivalent by S&P, Fitch, or Moody’s) financial Institution of €1,000,000 prior to receiving the entitlement. This “letter of credit” will help prove to Apple that the marketplace developer as the financial means to support making that payment.
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