Amazon Coin

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Amazon Coin is a digital payment method created by Amazon.com. Currently the coins can only be used to purchase software for Kindle Fire tablets and Android from the Amazon Appstore or from within an application.

Function and value[edit]

Amazon has called the scheme a "virtual currency". However, the coins operate like other digital Gift cards available from retailers.[1]

One Amazon Coin is worth one cent. In the UK, one Amazon Coin is worth one penny. However, like many coupons they cannot be redeemed for cash. Additionally, they cannot be resold or transferred to another Amazon account.[2]

Purchased coins do not expire, but some promotional coins expire just over one year from when they are acquired.[2]

When a customer buys software with Amazon Coins the developer is paid in conventional currency.

History[edit]

First introduced in the US in May 2013, and later in the UK in November 2013.

Promotions[edit]

The company introduced the product with a promotion to all Amazon Kindle Fire users in the United States and UK. The company started promoting the coins by giving them free to both existing and Kindle customers. Existing Fire owners given Coins to the value of $5/£4. Coins were also given to customers who had ordered the Kindle Fire HDX in late 2013 when they received their products.

In 2014, with the release of the Fire Phone, Amazon offered app developers 500,000 Amazon Coins for each paid app or app with in-app purchasing developed and optimized for the Fire Phone.[3]

References[edit]

  1. ^ "Introducing Amazon Coins: A New Virtual Currency for Kindle Fire". Amazon.com. February 4, 2013. Retrieved May 14, 2013. 
  2. ^ a b "Amazon Coins Terms and Conditions". Amazon. Retrieved 17 May 2014. 
  3. ^ "Appstore Developer Select". amazon.com. Amazon.com Inc. Retrieved 20 June 2014.