The latest system update for Xbox 360 finally brings an end to Xbox Live Arcade’s Microsoft Points system. With the Points system retired, transactions on Xbox 360 are now going to take place using local currency.
According to a FAQ posted by Microsoft, existing Points will be converted into an equal or greater value of each user’s local currency. This also includes any gift cards that consumers may redeem at a later date. The converted points though will expire by June 1st, 2015. Hence consumers are advised to spend them in the time to come or else see them lost.
Microsoft also said that it currently “has no plans to discontinue acceptance of previously purchased Points cards and codes.” Gamers can continue to purchase Microsoft Points cards at retailers until Microsoft introduces real-currency gift cards later this year.
The new update is a small one and once done, you’ll see almost every title in the store showing prices in your local currency. Those titles that are currently displaying prices in Microsoft Points, “proceed with the purchase as usual by clicking the Download or Purchase button to see the purchase price in currency. When you confirm your purchase, the transaction will complete in currency”.
However, it’s going to take some time before things are streamlined. According to Microsoft gamers with currency in their Microsoft account will not be able to purchase an Xbox Live Gold Membership at this time. Additionally you’ll have to wait until late 2013 or early 2014 to “use the currency in your Microsoft account for music purchases of individual tracks and Xbox Music Pass on Xbox One”.
Plans for the conversion were announced in May of this year where Microsoft was revealed to take the new system into public beta in June and then release it for consumers by August.
In a way the conversion to local currency will also provide peace to gamers who previously found it annoying to convert the required Microsoft Points to real currency in order to know how much cash to dish out.