Apple introduced a new Payments and Financial Reports module for iTunes Connect on Thursday that should lead to quicker payments for third party iOS-compatible app developers. The new system should make it easier for developers to track app sales, too.
The new Payments and Financial Reports module gives developers “clearer presentation of amounts earned, amounts owed, and a reconciliation between the reported sales and the amounts paid.”
Apple is also lowering the minimum dollar amount to trigger payments, so developers should see their checks quicker, and payments will be made in single monthly installments for worldwide sales which Apple says should cut down on developer’s bank fees.
iPhone, iPad and iPod touch developers interested in learning more about what’s new in the iTunes Connect payment system can check out Apple’s iPhone Developer Center Web site.
[Thanks to Macworld UK for the heads up.]