Amazon introduces ‘Amazon Coins’ as a virtual currency for apps

Virtual Coins seem to be a hot trend these past few weeks, and now the online giant has formed its own virtual currency named “Amazon Coins”.
The new currency will allow users to purchase apps on the Amazon Appstore for Android, as well as purchase in-app items from the same location. It seems that the Kindle Fire users were the first to be introduced to the service, and each registered uses were given $5 to test out the service as a “thank you”. The ratio of Amazon Coins to USD is 10 to $1. Though anyone can purchase the coins, there is even a Amazon Coins page to the purchase coins (below)
Features of Amazon Coins:

  • The ability for app developers to use Amazon Web Services’ (AWS) technology platform for their infrastructure needs. Building blocks such as Amazon Elastic Compute Cloud (EC2), Amazon Simple Storage Service (Amazon S3), and Amazon DynamoDB allow developers to focus on what differentiates their app rather than the undifferentiated heavy lifting of infrastructure.
  • App submission for distribution to nearly 200 countries globally enables developers to reach millions more Amazon customers worldwide.
  • In-App Purchasing on Kindle Fire, Mac, PC and web-based games. This enables developers to sell virtual items in their apps and games while allowing their end users to simply use their Amazon accounts to make the purchase.
  • GameCircle, which includes capabilities like Achievements, Leaderboards, Friends and Whispersync for syncing games across devices, and leads to better engagement with games.
  • Game Connect, which lets developers list their virtual goods for sale on Amazon, increasing discoverability of their games and making the purchase of virtual goods as easy and convenient as possible for customers, leading to increased monetization for developers.

To help launch the product/service, Amazon is offering a 10% discount fro every $100 spent to purchase the coins. Facebook Credits were previously launched for Facebook apps, Microsoft Points are for Xbox Live and now you have Amazon Coins. The real advantage to suing the coins comes in a few forms. One, parents can purchase coins for their children allowing them to have a pre-set total for apps. The second is security, you don’t have to have a credit-card on file on a third-party system or multiple systems if you use the currency. The transactions will go straight through Amazon’s payment methods. Although the security isn’t exactly an issue yet (since only the Amazon App store uses the currency) if it expands into other services it would provide a unique advantage for the retailer.
more info: amazon

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