Amazon Coins was announced in February of this year and it is poised to go live in early May. The essence of this program is a new set of virtual currency that can be used to purchase apps and make in-app micro payments. Developers will earn 70% commission on in-app purchases from customers using Amazon Coins. Today, Amazon announced that developers have until April 25th to implement the virtual currency in their apps, so they will be ready for the May launch.
Amazon will be giving away millions of free coins when the service first launches. Developers are encouraged to have their apps ready, because even though patrons will be spending free coins, developers will be able to rake in a ton of cash. There is no word yet on the cost of the coins, or whether or not they will be on a 1:1 ratio with the US dollar. Currently, this new program will only be available for US customers at launch, with no word on a broader international release.
Amazon Coins is really poised to differentiate the company’s Android App Store from all of the others on the market. Customers will be able to gift coins to their kids or to their friends. This will make purchasing content without a credit card a ton easier for people who don’t live in the US, or don’t have access to a credit card.
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.