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"Microsoft Points are being scrapped as part of a new Xbox 360 dashboard update. From today (August 26), Xbox 360 users will be able to purchase downloadable items with local currency, instead of Microsoft Points.  The update is being rolled out gradually, but will soon be available to all members across every region. &amp;quot;Today we started rolling out the official release of the 2013 Xbox Live Update,&amp;quot; a Microsoft representative told Polygon. &amp;quot;To ensure a stable release, this will be a gradual deployment across members and regions. Don&amp;#039;t panic if you don&amp;#039;t see an immediate update, just keep checking back in.&amp;quot; According to Microsoft, existing points will be converted into currency equal to or greater than the current value.  Points cards, which will continue to be available in-store, can be redeemed until further notice, while currency cards will be introduced later this year. Microsoft announced plans to scrap Points during its E3 conference in June. The transition takes place ahead of the release of Xbox One, which will launch in 21 countries in November, priced at $499 in North America and \u00A3429 in the UK. Watch the Xbox One announcement video below:  "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/gaming/news/a509876/microsoft-points-scrapped-for-currency-in-new-xbox-360-update/>