Apple is introducing Billing Grace Period as a way to improve the customer experience surrounding subscriptions.
Billing Grace Period
Under Billing Grace Period, if your app subscription fails, it will let you continue to access the service while it tries to bill you. Apple will also email you with an alert.
We’ve worked closely with leading developers to create a solution for reducing customer churn while improving the experience for auto-renewable subscriptions. With the new grace period for unsuccessful auto-renewals, subscribers can continue accessing your app’s paid content while Apple attempts to collect payment — allowing them time to fix the issue. There won’t be any interruption to the subscriber’s days of paid service or to your revenue if payment is successful within the grace period.
Apple also provided a chart that tells you the length of the Billing Grace Period based on the subscription: