Xbox 360 players have been dealing with Microsoft’s Points system when purchasing Xbox Live Arcade games, downloadable content and anything else the Xbox Live Marketplace has to offer for sale for year. The result of this has caused many Xbox 360 players to know instinctively 80 Microsoft Points translates to $1, but it looks like that brain wrinkle can finally be used for some other useless information as it’s being reported Microsoft will do away with its Microsoft Points system in favor for a new gift card system.

According to sources familiar with Microsoft’s Xbox plans speaking to The Verge, their new gift card system will be offered in a similar way to Apple’s iTunes vouchers, although normal cash transactions using credit and debit cards will also be supported. Unlike Microsoft’s current gift cards system, which can only be redeemed at its few retail stores, the new gift cards can be redeemed across various Microsoft marketplaces, including Windows Store, Windows Phone Store, and the Xbox Marketplace. The new gift card system is expected to be unveiled at E3 2013, with its rollout expected to occur later this year along with the next-generation Xbox.

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