February 05, 2013
| by Rachel Cericola
Is your money good enough for Amazon? Well, of course, but the company just announced Amazon Coins, a new virtual currency designed for making purchases on the Kindle Fire.
Amazon Coins will work when buying up apps, games and in-app items through the Amazon Appstore. However, it will only work on Kindle Fire purchases.
When the purchase option launches, Amazon plans to give away tens of millions of dollars’ worth of free Amazon Coins, so that customers can get used to the idea—and also start shopping.
Developers will earn the standard 70 percent revenue, when shoppers make a purchase using Amazon Coins.
“Developers continue to report higher conversion rates on Amazon compared to other platforms,” says Paul Ryder, VP of Amazon’s apps and game division. “Now we have another new way to help developers reach even more of our millions of customers. Amazon Coins gives customers an easy way to spend money on developers’ apps on Kindle Fire in the Amazon Appstore-and we’re giving customers tens of millions of dollars in Amazon Coins to get started. Developers who aren’t yet in the Amazon Appstore will want to make sure their apps have been submitted and approved by April 25 so they’re ready for customers to start spending their Amazon Coins.”
Amazon plans to debut Coins for use with the Kindle Fire this May. Not to worry, though; once the switch happens, it looks like cash will still be king—or at least accepted.
Follow Electronic House on Facebook and Twitter.
Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.