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Xbox 360 update kills off Microsoft Points

Xbox Live users can now purchase content in their respective local currencies.

Microsoft began rolling out the latest Xbox 360 dashboard update for users Monday morning, changing users' Microsoft Points to local currency in their respective markets.

Users can now use the same digital money based on their local currency across Microsoft platforms, including Windows, Windows Phone and Xbox devices and services. Windows Phone users can view their currency by downloading the Microsoft-developed Wallet app; the Xbox website has yet to be updated to show each user's digital money amount. Previously, the amount of Microsoft Points associated with a user's account were displayed underneath their gamertag at the top left corner of the website; that area is now being used to say if an Xbox Live user is a Gold or Free member.

Existing Microsoft Points cards can still be redeemed, with the amount converted to an equal or greater value of local currency. According to an FAQ posted on the Xbox website, U.S. and Canadian Xbox Live members who redeem Microsoft Points cards will not have taxes added to their purchases made from those cards. Additionally, no taxes will be applied to transactions made with points converted to local currency in any region.

Taxes will be applied to all purchases made with money users add to their accounts; value-added taxes will be added to the listed price of content in countries that use the pre-purchase tax system, such as the U.K.

Any unused Microsoft Points converted to local currency during the update will expire on June 1, 2015.

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