Apple will now offer 'grace period' for lapsed payments

If you have subscribed to paid Apple apps, the company will now offer a grace period in case of lapsed payments.

As TechCrunch reports, developers will have the option to offer the 'grace period' for auto-renewable subscriptions, allowing Apple more time to collect payment on the developer's behalf.

The offer is useful when payments have lapsed over expired credit cards, change in address, an update of the billing zip, and other billing issues. The new option will be opt-in on the developer's part.