Microsoft has replaced Microsoft Points on Xbox Live with local currency.
The move was part of a recent Xbox 360 system update and is effective immediately.
The switch allows Xbox points (now displayed as local currency) to be used to purchase both Xbox content and apps from the Windows Phone Store for users with a Windows Phone 8.
Microsoft considered many factors to make sure the Microsoft Points exchange value was at or exceeded marketplace value at the time of the switch.
Marketplace value is determined by the point value in Microsoft Stores, and may not be equivalent to retail price determined by a retailer.
The switch also affects Microsoft Points Cards. Microsoft is encouraging customers to go ahead and redeem the points on the cards; as soon as they are redeemed, they will be converted into the local currency in the customers Xbox Live account.
However, all Microsoft Points that have been switched to a marketplace equivalent local currency will expire on June 1. 2015, a little under two years from now.
New money added to the account will not expire, only the currency that used to be Microsoft Points. The system will automatically use the expiring funds first before it uses actual money that has been added by other means to the account.
To find out more about Microsoft Points being replaced by local currency on Xbox Live accounts, visit Microsoft’s FAQ site here.
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