Mobile Payments

Amazon to launch virtual currency for Kindle Fire

Wednesday 6 February 2013 | 10:45 AM CET

Amazon is set to launch Amazon Coins, a new virtual currency for Kindle Fire owners to use on in-app purchases as well as app purchases in the Amazon Appstore, online media outlet techcrunch.com reports.

According to the source, the service is set to launch in May 2013, allowing users to pay for apps or in-app purchases with their credit cards or with Amazon coins. Developers will still get their 70 percent cut from each purchase made, whether it’s from credit card or Amazon Coins. According to the Amazon Coin FAQ, one Amazon Coin is worth one cent.

The Amazon Coin system is only available to US consumers at the time of launch and will not be eligible as payment for any subscription services.

In recent news, Amazon, in collaboration with MasterCard, has rolled out Friends & Family Gifting, a new functionality which will allow customers to keep track of birthdays and special occasions, get shopping reminders and manage gift ideas for everyone on their list year-round.

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