The Latest Virtual Currency From Amazon

By Doug Ehrman – May 15, 2013 at 5:21PM

NASDAQ: AMZN

Amazon

Market Cap

$1,883B

Today's Change

(-1.14%) -$2.06

Current Price

$179.22

Price as of April 18, 2024, 4:00 p.m. ET

As the manufacturer of the last Android tablet that does not allow access to Google Play, Amazon is looking for new ways to drive traffic.

In an effort to drive business and more thoroughly compete with Apple (AAPL -0.57%) iTunes and the Google (GOOGL 0.35%) Play store, Amazon.com (AMZN -1.14%) is introducing Amazon Coins. The new virtual currency gives users the ability to receive a discount on apps in the Amazon App Store. The practice is similar to the points system that Microsoft (MSFT -1.84%) uses for Xbox Live; that system has received mixed reviews, but Amazon is hoping for different results.

In the video below, Fool.com contributor Doug Ehrman discusses the new virtual currency and the potential impact that it may have on the stock looking ahead.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends Amazon.com, Apple, and Google. The Motley Fool owns shares of Amazon.com, Apple, Google, and Microsoft. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.