Earlier this month, Amazon.com announced they would be offering customers a new virtual experience, involving money, naturally. More specifically they are offering customers a new way to pay: Amazon Coins.
With this new virtual currency, the customers are given the option of using a credit card or the new form, Amazon Coins, for purchases on the Kindle Fire. Each coin is equivalent to one cent, and this coming May, be prepared, because the company will be giving out “tens of millions of dollars” worth of Amazon coins to customers for spending on apps, games, and in-app items on the Kindle Fire as well Android devices.
Amazon looks to gain customer loyalty towards their personal products such as the Kindle Fire through the distribution of the coins. The plan is to begin distributing coins to each customer after they have made a purchase on the company’s website. The company is looking for a payout in the purchasing of other products hoping that the customer becomes excited and engaged in collecting as many coins as possible for a future discounts.
We know, many app developers are in a frenzy wondering if they are going to get paid in virtual currency. Do not fear, Amazon has stated that developers will receive the same royalty payments as before regardless of the method used for purchase. So don’t worry, if the app cost $2.99 or 299 coins, the developer will still receive his share in actual currency, dollars.
So what do you think of Amazon.com’s launch of new currency? Do you think virtual money is going to start a revolution, or be a dark blemish on their record mentioned years from now as the “2013 marketing nightmare?”
Have more questions about the new Amazon Coins? Here’s a link to Amazon’s FAQ page to answer any further question you might have.