Microsoft Points to Real Money Handover Explained
Written Thursday, June 13, 2013 By Lee BradleyView author's profile
This one almost slipped us by amidst the trailer and screenshot madness of E3 2013, but it’s worth covering for those that may have missed it.
Microsoft has revealed the precise details of its switch from the use of Microsoft Points to real money on the Xbox Live Marketplace.
According to a FAQ posted by the platform holder, the switch will take place this autumn, presumably in line with the release of the Xbox One, but previously purchased MSP cards will still be valid for some time after that.
How long exactly? Well, Microsoft says that you will be able to register existing MSP cards "through 2014 and for a limited time thereafter."
Meanwhile, existing MSP on your account will be converted into real money when the switch begins, although the company hasn’t clarified the exact conversion rate it will use.
"To make this a seamless and positive experience for our customers, we have considered many factors to ensure that the amount deposited in your Microsoft account will be of equal or greater marketplace value than your Microsoft Points," said Microsoft.
After the switch, any Microsoft Points that you deposit will immediately be converted into your local currency. You can still switch your account from region to region, but any money deposited in your account must be spent in the region you bought it.
This last measure is to prevent users from exploiting currency rates.
The switch to real money also means that you won’t be able to pick up MSP cards at a reduced rate any more. However, Microsoft will be introducing new Xbox Gift Cards later this year that may allow us to hunt around for bargains.
The Xbox Gift Cards will be redeemable against all Xbox Live content, including games, add-ons, movies and Windows Phone apps.
Earlier today, Microsoft revealed its revised Achievements system. You can read that here. It’s all change at Xbox HQ.