Amazon Coins arrive in South Europe

Wednesday 14 May 2014 13:58 CET | News

Amazon Coins, a virtual currency for buying videogames and other software from the ecommerce platform, Amazon, has tapped into the Spanish, French and Italian markets, reports.

Up to now, the digital currency has been available in the US, the UK and Germany. Cheng Luo, an Amazon representative, states that the company provides coins worth of EUR millions (100 Coins = EUR 1) to customers in France, Italy and Spain. Still, Amazon Coins are not stable because virtual coins are not as flexible as fiat currencies, and can be used only on one marketplace and for a limited number of purchases.

People can buy Amazon Coins, then spend them on apps, in-app upgrades, and virtual gift cards for apps. In the US, they cost a penny each; in Europe, they cost more, that is EUR 4.80 (USD 6.58) for 500 coins or EUR 90 (USD 123) for 10,000 coins.

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Keywords: Amazon, coins, digital currency, virtual currency, videogames, ecommerce platform
Categories: Payments & Commerce
Countries: World
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