Amazon Coins Available for Kindle Customers

Amazon (NASDAQ: AMZN  ) Coins, the online retailer's new virtual payment method, can now be used to purchase apps, games, and in-app items from the Amazon Appstore and on Kindle Fire, the company announced today.

To mark the occasion, Amazon has deposited 500 Amazon coins ($5) into the accounts of Kindle Fire customers. "Tens of millions of dollars worth of Amazon Coins are now in customers' accounts to spend on developers' apps," according to the release.

"We will continue to add more ways to earn and spend Coins on a wider range of content and activities -- today is Day One for Coins," Amazon Vice President of apps and games Mike George was quoted as saying.

The company says that with Coins, Amazon Appstore developers can utilize its Amazon Web Services cloud technology platform to submit new applications, and will continue to earn 70% revenue share when customers utilize Coins to purchase items. For Amazon customers, large volume Coin purchases will receive discounts of up to 10%.

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