Apple has today rolled out support within its App Store for eight more currencies, which includes the Russian Ruble, Turkey’s Lire, India’s Rupee, Indonesia’s Rupiah, Israel’s New Shekel, Saudi Arabia’s Riyal, South Africa’s Rand, and United Arab Emirates’ Dirham.
Previously these unsupported currencies would have had to make payments in US dollars rather than their local currency, download free applications or jailbreak their devices to acquire apps by illegal means.
With the addition of the new support currencies within the Apple App Store, developers will now be able to create and benefit from localised apps created for the specific countries listed.
Enhanced User Experience
The inclusion of these eight new currencies is a significant step towards enhancing the user experience for Apple customers in these regions. By allowing users to make purchases in their local currency, Apple is not only simplifying the transaction process but also making it more transparent. Users no longer have to worry about fluctuating exchange rates or additional fees that might be incurred when converting their local currency to US dollars. This change is expected to increase user satisfaction and trust in the App Store, potentially leading to higher sales and more frequent purchases.
Benefits for Developers
Apple also explained that payment reports via recently updated iTunes Connect will now also include individual reports from the eight new currencies. With the month of October being split into two, for before and after the change from US dollars to the new eight currencies. This update is particularly beneficial for developers who can now price their apps more competitively in these markets. By setting prices in local currencies, developers can better align their pricing strategies with the purchasing power and economic conditions of each country. This could lead to increased downloads and revenue, as apps become more accessible to a broader audience.
Moreover, localized pricing can help developers gain a competitive edge in these markets. For instance, an app priced at 99 cents in the US might be considered expensive in a country with a lower average income. By adjusting the price to match local economic conditions, developers can attract more users and increase their market share.
Impact on the Global App Market
The addition of these new currencies is also likely to have a broader impact on the global app market. As more users from these regions start making purchases, the demand for localized content is expected to rise. This could encourage developers to create more region-specific apps, catering to the unique needs and preferences of users in these countries. For example, a developer might create an app that addresses local issues, such as a public transportation app tailored to the specific routes and schedules of a city in Indonesia or a financial planning app that takes into account the economic conditions in Turkey.
Furthermore, this move by Apple could set a precedent for other tech companies to follow. As the global digital economy continues to grow, the importance of catering to local markets becomes increasingly evident. By supporting a wider range of currencies, companies can tap into new customer bases and drive growth in emerging markets.
In conclusion, Apple’s decision to support eight new currencies in its App Store is a significant development that benefits both users and developers. By making it easier for users to make purchases in their local currency, Apple is enhancing the user experience and fostering trust in its platform. At the same time, developers can take advantage of localized pricing to increase their revenue and market share. This move is likely to have a positive impact on the global app market, encouraging the creation of more region-specific content and setting a new standard for other tech companies to follow.
Source: Tech Crunch
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