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Online retail giant Amazon begins virtual coin collection

By Catholic Online (NEWS CONSORTIUM)
May 14th, 2013
Catholic Online (www.catholic.org)

Currently only available in the U.S. for Kindle Fire owners, Amazon Coins - the dream child of online retail giant Amazon, can be used to pay for games, apps and in-app purchases from the Amazon Appstore. One Amazon Coin is worth one US penny, and Kindle Fire owners are getting 500 Coins, or $5) for free as part of the launch. 

LOS ANGELES, CA (Catholic online) - Microsoft Points are the currency of the Xbox Live Marketplace, Games for Windows Marketplace, Windows Live Gallery, Xbox Music and Video online stores and points can be used to buy content from the respective stores.

Parents can buy their children Points to spend on games and upgrades, and control how much they spend without adding a credit card to the account.

In October of last year, the controversial Windows 8 began support local currency in the Xbox Video Store instead of relying on Microsoft Points. This may mean that Microsoft may move away from its virtual currency, in the manner of what Facebook did with its Credits scheme last year.

The Coins will also be able to be used on the company\'s retail site when they become more widely available.

The Coins can be bought in batches of 1000, 2500, 5000 and 10,000 and the more you buy, the bigger the discount: 10,000 Coins costs $90, for example. Customers will also get a 10 percent discount on items bought using Amazon Coins.

Amazon has said it has launched its Coins program as a way for developers to make more money by making it easier for shoppers to buy apps and games.

Developers are banking that Coins will make it easier for customers to pay for items as they can buy and store Coins in their Amazon Appstore accounts to use as and when. It's also a way for parents to control how much children spend, negating the need to have a credit card attached to the account.

Amazon already accepts card payments and gift cards for Kindle purchases and has said that these payment options will remain. Amazon developers submitted their apps late last month for the chance to run on the new Coins currency.

Developers will continue to get 70 percent revenue share for any apps or in-app purchases bought using Coins.

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