Xbox Live currency transition coming “soon” in next Xbox 360 update

Microsoft has reminded users that it will soon by retiring Xbox Live Points in favour of using local currency.

Arriving as part of the next Xbox 360 update, Microsoft will soon be charging users real currency for Xbox Live transactions rather than the rather inconvenient Points system.

Mimicking the transaction system available for the PS3, the Xbox 360 will soon abandon Xbox Live Points for local currency.

This transition was announced at the Xbox One unveiling, but Microsoft has started sending around emails to Xbox Live gamers indicating that the change is imminent.

“Transactions on Xbox will soon take place using your local currency instead of Microsoft Points”, reads the email sent to Xbox Live members. “This change will make it even easier for you to access and enjoy the games, apps, HD movies and TV shows, and other great content you love on Xbox!”

Any Xbox Live Points currency held in gamers’ accounts will be automatically changed to their local currency equivalents.

“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.”

Gamers can then use a variety of payments options to buy games and other Xbox Live content, including from the Windows Phone Store on Windows Phone 8.

Xbox Live Rewards are also being wound down, with Microsoft depositing any Pending Points into the user’s Xbox Account even if they are under 100. The value will be converted into local currency and added to a user’s account.

Microsoft added that a complete overhaul of the Reward system is also inbound. It invites Xbox Live users to check the website on September 1 to see how the programme is changing and how Microsoft will reward loyal gamers.

Expect to see Microsoft unveils the Rewards system for Xbox One then too, with rumours suggesting gamers may even be rewarded when watching TV content on Microsoft’s next-gen console.

Next, prepare for the next-gen with our handy Xbox One games list.

Unlike other sites, we thoroughly review everything we recommend, using industry standard tests to evaluate products. We’ll always tell you what we find. We may get a commission if you buy via our price links. Tell us what you think – email the Editor