Amazon introduces ‘Coins’ virtual currency
Amazon has introduced its own virtual currency to US Kindle Fire owners with the launch of its ‘Coins’ platform, distributing 500 Coins, valued at $5, to every owner to mark the occasion.
Intended for use in purchasing games, apps and in-app purchases from Amazon’s app store the scheme will ultimately be rolled out to the retail website and international consumers.
To drive custom a 10 per cent discount is being offered on purchases made with the custom-currency and follows the success of similar services such as Bitcoin and Microsoft Points.
Amazon believes that the new service will boost growth as more people make more purchases by allowing people to pre-load their app store accounts with the cash.
It will also help parents manage their children’s spend by removing the need to attach a credit card to individual accounts.