Microsoft Points depart in next Xbox 360 system update

5:00 PM, Aug 10, 2013   |    comments
Microsoft's Xbox 360 video game console.
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Following through with one of the promises made during their press conference at E3 2013, Microsoft is doing away with its Microsoft Points virtual currency as soon as the next Xbox 360 system update.

"After the next Xbox 360 system update, when you next choose to initiate a purchase or redeem a Points card or code with your Microsoft account, we'll put into your account an amount of currency equal to or greater than the marketplace value of your Microsoft Points," said the company in an email sent out to Xbox Live account holders over the weekend.  "Your Microsoft Points will be retired, and you'll immediately be able to use your new funds, in addition to other current payment methods available in your region, to purchase content from your favorite Xbox stores - or the Windows Phone Store on Windows Phone 8."

Real-world denomination gift cards for Xbox Live Marketplace should begin appearing at retailers later this year.  Microsoft says that those who own or purchase Microsoft Points cards will instead get the card's real-world value credit to users' accounts.

Left-over points will automatically be converted to real-world denomination credits as well, though these converted funds will expire should they not be used by June 2015.

Microsoft is providing more information in this change over at http://www.xbox.com/pointsfaq

News10/KXTV

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