Wednesday, February 6, 2013

Amazon to roll out its own virtual currency, Amazon Coins, for customers to pay for apps, games or in-app purchases

The Amazon Mobile App Distribution Team today announced that the company will soon launch its own virtual currency for U.S, customers. Amazon Coins will launch in May, and will the online retailer's equivalent of promo codes – those codes used inside the Apple iTunes store - and the company said it will be giving out "tens of millions of dollars worth of Coins to customers to spend on Kindle Fire apps, games, or in-app items."

The announcement of the new virtual currency was sent to Amazon Mobile App Developers this morning.

"For customers, it's an easy way to spend money on Kindle Fire apps and games," Amazon's developer relations team wrote. "They'll be able to purchase as they do now, but with the ability to choose to pay with a credit card or using Coins. For you, it's another opportunity to drive traffic, downloads, and increased monetization. Plus, there's no integration required--you'll get paid the same 70% revenue share whether the customer chooses to use Coins or their own money."

Amazon said the developers need to make sure their new apps and updated apps are submitted and approved by April 25 in order to be sure they can utilize Amazon Coins at launch.