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Amazon launches its Virtual Currency, 'Amazon Coin' in the UK

Right from ancient times there has been one medium or the other to complete transactions. The barter system was replaced by money. Now with cashless transactions on the rise I would really not be surprised if people started adopting the digital currency. Six Months after its launch in North America, Amazon Coin was made available for users in the UK on 22nd November 2013.

Amazon Coins enable its existing and new Kindle Fire customers to buy applications online. The company started promoting the coins by giving them free to both existing and kindle customers. Existing Fire owners found the free £4 in their Amazon accounts. Coins were also made available to customers who had ordered the new Kindle Fire HDX & 8.9 Kindle Fire HDX 7, when they received their products.

Amazon Coin is a new way to purchase Kindles’ applications, games and in-app items from Amazon. This will help the company to drive traffic into the website and increase monetisation. Amazon offers 10% discount on purchase of coin in bulk which help customers save money on their applications and games purchase.

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Some of the features of Amazon Coin:

  • Amazon Coins allows redeemable feature which helps users in buying thousands of kindle fire apps and games.

  • Amazon Coin has no expiration and it charges no fees from the user.

  • Amazon Coin lets users deposit the amount quickly.

According to Mike George Vice president of apps and games at Amazon Today we are giving kindle fire owners GBP4 worth of coins to spend on new apps and games such as candy crush saga and angry birds, star wars and the discount is up to 10% when you buys coins in bulk this is a great way for customers to save money when they buy apps and in-app items.

Amazon has made it interesting for the user by creating a platform wherein the more you buy the larger the discount you will get. Amazon gives the user an additional payment option with its coin by which user can shop online even if they are short on cash or credit at that moment.

Since the launch of Amazon app store, it has received a great response from all the customers. Amazon is trying to innovate new features like apps of the day. Customers in the UK are given various options to purchase a broad range of app store content using Amazon Coins.

According to estimates from Amazon the application developers will earn 70% revenue share when a customer makes a purchase using Amazon Coins. Developer are not given special privileges in terms of coins. In the US developers have seen a great boost since the launch of coins. The same response is expected from UK customers as well.

Recently, it was reported that Amazon was in talks with Transport for London (TFL) to convert their ticket offices to pick up points for goods. This would enable Tube travellers to pick up electronics, books and other online shopping.

Read also Amazon expands Mobile Payments capability by acquiring GoPago

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