Transactions will now take place using real, localised currency

E3 2013: Microsoft Points to be retired this autumn

Microsoft will retire its points system in a new update for the Xbox 360 this autumn, it has confirmed.

Transactions on the Xbox marketplace will now take place using local currency, with the monetary value of a user’s Microsoft account also stored in localised currency.

Consumers will now be able to use a single Microsoft account to purchase games, movies and apps from the Xbox and Windows Phone stores.

Current Microsoft Points will be replaced by a monetary value equal to “great than” their marketplace value.

Funds from Microsoft Points cards can still be redeemed throughout 2014, but these must then be spent within one year. The cards will be discontinued from sale alongside the Xbox update in autumn and replaced by Xbox Gift Cards.

Users will not be able to take funds out of their account or transfer them to another profile.

For the full FAQ on Microsoft’s switch to local currency, visit the official website.

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