Over the years different types of currencies have been produced in various parts of the world, so people can buy things in a specific regions without facing any problem. Later plastic money was introduced thanks to VISA, MasterCard and others, which has not only freed people from cash, but also enabled them to make purchases without changing currency during foreign trips. However, now to boost their businesses a number of websites have started dealing in their own currencies that is generally known as virtual money and it can be used only on the specific platform that issues the virtual currency. Following this example, Amazon has also announced its own virtual money on Tuesday, February 5. This new currency from Amazon is called “Amazon Coins” and it is being marketed as an “easy way for Kindle Fire customers to spend money on developers’ apps in the Amazon Appstore.”
Amazon has plans to launch its virtual currency in May with “tens of millions of dollars’ worth of free Amazon Coins” so buyers can spend them on developers’ apps. With the introduction of this currency, developers whose apps are available on Amazon are expected to make more money than they currently do. 70 percent of the purchase price of the app goes to developers, while the remaining 30 percent goes to Amazon and increased sales benefit both parties. The multinational e-commerce company will make allow customers to buy coins from their accounts without wasting any time and facing any problems.
Moreover, with the launch of this virtual currency, Amazon will look to compete with other types of online currencies such as Facebook Credits. On the other hand, Amazon app developers do not have to do anything to utilize Amazon Coins. All they should do is to get their apps approved until April 25, if their apps are not available on Amazon’s App Store, so they will be ready to receive money when the virtual currency of Amazon will be launched in May.
However, buyers who are more interested in using their credit cards after the launch of Amazon Coins would still be allowed to use them, whereas the app developers on the platform will also get the same 70 percent on the purchase of their apps. These coins will also allow Amazon to keep its Kindle users in the eco-system for long-term. So be ready to buy apps and games on Amazon platform by using its very own currency in the near future.
Photo: UberGizmo
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