Amazon is currently the leading online company that sells wide range of products available around the globe. With its huge market value and millions of subscribers, this company’s reputation has gone far beyond retail marketing. With its growth comes with a new innovation that is set to provide more flexibility in payment options as it launches a virtual currency called Amazon Coins.
Amazon coins are virtual currency that can be used to pay Kindle Fire games and apps. This coin is worth one cent for a dollar, so an app that is worth $1 is equivalent to 100 Amazon coins. This will allow users to spend money in new ways while it gives the developers more opportunity to generate earnings in the Appstore, in-line with the recently launched in-app purchases. The developers are still to earn 70% of the completed purchases either by Amazon Coins or credit card. With this, customers can have the option to pay in credit cards or with Amazon coins.
This coin system is currently now available only for United States consumers and will be expanding its territories as it progresses. Although there is no information yet on how the developers can reward the users with Amazon coins, the promising use of this coin are said to be more helpful to both parties.