Good news, friends on Xbox. If you own an Xbox360, you probably already knew about this update, but Microsoft has officially retired the Microsoft Point. Instead, players will be happy to see that their local currency will be displayed and used when adding to your account coffers and when determining prices of items on the Xbox Live store.
When you initiate a purchase or redeem a Points card or code with your Microsoft account after the next Xbox 360 system update, we’ll add to your account an amount of currency equal to or greater than the Marketplace value of your Microsoft Points, and your Microsoft Points will be retired. The currency we add to your account at the time of the transition will expire on June 1, 2015. However, the currency you purchase and add to your account after the transition will not expire.
One important piece to note is that apparently Microsoft Point cards (not the new cards) will expire one year after redemption, and the website only guarantees that Microsoft points will be redeemable “until further notice.”
Microsoft Points cards and codes that you purchased and redeem after the transition will expire one year from the date the Points are redeemed.
(Source: Xbox Live FAQ)
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