Next Xbox 360 update will add local currency

The days of Microsoft Points are numbered. Microsoft chief product officer Marc Whitten explained in an Xbox Wire blog post today that the controversial currency system will be replaced by local currency on Xbox 360 via the next system update.

"This change was a direct result of customer feedback," Whitten said. "You told us you want to be able to buy things using money instead of points, and we listened."

Whitten said the goal is to make the transition "as easy as possible."

"After the next Xbox 360 system update, when you go to buy something or redeem a Microsoft Points card or code on your console with your Microsoft account, we’ll add to your account an amount of currency equal to or greater than the Xbox Marketplace value of your Microsoft Points, which will be retired," he said.

Making a purchase through Xbox 360 will be "faster and easier than ever," Whitten added. Content will be presented in local currency, so users will not need to perform calculations to determine costs.

Microsoft Points Cards will continue to be accepted "until further notice," Microsoft said.

Microsoft points have been in place since the inception of Xbox Live and have not been without criticism. Rather than using real-world currency, Microsoft has adopted its own system, where 400 Microsoft points is equivalent to $5. Further, Microsoft sells point packs only in multiples of 400, often leaving gamers with excess points after purchasing content they want.