In a blog post on the Amazon App Store development blog, the company announced it would be introducing its own virtual currency called Amazon Coins.  The launch of Amazon Coins is slated some time in May and will offer developers the same 70% revenue cut they get now when consumers use their own money. Consumers will still have the option to use their own credit card to pay for Kindle Fire apps and games if they want.

Today we announced the upcoming launch of Amazon Coins, a new virtual currency for U.S. customers to purchase apps, games, and in-app items on Kindle Fire. When Amazon Coins launches in May, we will be giving out tens of millions of dollars worth of Coins to customers to spend on Kindle Fire apps, games, or in-app items.

If you want to take advantage of Amazon Coins as a developer, make sure your new apps and app updates are submitted and approved by April 25th so they’ll have the best chance of being available for Coins purchases at the launch of the program (and when Amazon gives customers free Coins).

One Amazon Coin is worth one cent, so an app that sells for $1.99 would be 199 Amazon Coins.  Amazon Coins will be only be available in the U.S. at the time of launch and will not be able to be used as payment for any of its subscription services such as Amazon Prime.

For more information on Amazon Coins, check out the Amazon Coins FAQ.

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