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Microsoft killing off Xbox Points in favor of currency and gift cards system

Time: 15:03 EST/20:03 GMT | News Source: The Verge | Posted By: Robert Stein

The new gift cards will be offered in a similar way to Apple's iTunes vouchers, allowing Xbox owners to purchase true currency to be used to download content. We're told that normal cash transactions, using credit and debit cards, will also be supported. Microsoft currently offers gift cards in its retail stores, but these can only be used for purchases in brick and mortar stores. The new system will work across Microsoft's various marketplaces, including the Windows Store, Windows Phone Store, and Xbox. We understand that Microsoft is planning to unveil the system as soon as E3, with a planned launch later this year in time for the next-generation Xbox console.