Microsoft Points finally scrapped – Xbox Live update now converting to local currency

By Prarthito Maity , Updated Aug 27, 2013 08:41 AM EDT

Microsoft has finally gotten rid of the previously available Microsoft Points. Via a brand new Xbox 360 Software Update, all Microsoft Points on the Xbox 360 will now be converted into local currency, depending on the country of operation. The update converts the alternate currency into real money.

The new update takes about a minute to fully install on the system, although there’s no real notable changes to the user’s dashboard other than the prices being listed in terms of the local currency in place of the previously found Microsoft Points.

“As part of the recent Xbox 360 system update,” the official post states, “Microsoft Points are being retired, and transactions on Xbox 360 are taking place using your local currency instead of Microsoft Points, offering you a new, convenient way to purchase exciting Xbox content. This change allows you to use a single Microsoft account to purchase content from your Xbox 360, and apps from the Windows Phone Store for users with a Windows Phone 8!”

Microsoft confirms that this transition from the alternate to the real has no after effects on the system. From now on, however, users will be needed to use local currency or an Xbox Gift Card (converted in the local currency), in addition to other current payment methods available in the region to purchase content on the Xbox 360.

For those having an Xbox Live Gold Family Pack, the official FAQ states when the user decides to initiate a purchase or redeem a Points card or code, “we'll add to that account an amount of money equal to or greater than the Marketplace value of that account's existing Microsoft Points.”

“This transition may also take place at the same time your Gold Family Pack is converted to individual Xbox Live Gold memberships,” it adds.

In a recent statement released to Polygon on the situation, a Microsoft representative stated: “Today we started rolling out the official release of the 2013 Xbox Live Update. To ensure a stable release, this will be a gradual deployment across members and regions. Don't panic if you don’t see an immediate update, just keep checking back in."

The rep further added that the update is set to be available in all 41 Xbox Live-enabled markets.

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