Apple (NASDAQ:AAPL) is ending its iTunes Allowance program.
The program was designed for parents to send a credit of $10 to $50 monthly for their children to purchase music on iTunes without having to get their credit card info as their parents would cover it.
The allowances could then be cancelled at any moment. Apple posted a statement on its website, informing users that all allowances will be cancelled for good on May 25.
Any unused credit will remain in its recipient’s account until it is used.
The iTunes Allowance program first came to life due to the fact that children under the age of 13 can’t automatically buy music.
AAPL stock is down 2% Friday.
