Xbox - Local Currency is Coming in Next Update, MS Points to Discontinue

Microsoft has announced that MS Points will be phased out and that local currency will take its place during the next update.

Here is what they had to say:

“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.”

“Making a purchase will be faster and easier than ever. You will see item prices expressed in local currency; no need to calculate what an item costs! You will still be able to directly purchase content from Xbox stores using any current form of payment available in your region, including credit cards. And with a rollout starting in late 2013, you’ll also be able to buy new Xbox Gift Cards (denominated in your local currency) through our online retailers and in local retail stores. These gift cards can be added to your Microsoft account online and are another easy-to-use payment option for customers.”

“Don’t worry about your Microsoft Points Cards either. We’ll continue to accept purchased Microsoft Points Cards and codes until further notice, and we’ll add to your account an amount of local currency equal to or greater than the Marketplace value of those points. In addition, we know you’ve worked hard on your Microsoft Points earned through Xbox Live Rewards. These will remain in your Xbox Live account and transition to local currency with the rest of your Microsoft Points.”

What are your thoughts?