Xbox 360 gets dashboard update that gets rid of Microsoft Points

Today, Microsoft is pushing out the much-awaited update for the Xbox 360 which will finally have the console switch from using Microsoft Points for purchases over to real money. According to Polygon, the update doesn't seem to bring about any visual changes to the Xbox 360's dashboard. It does, however, remove Microsoft Points from the store. Instead, it shows whatever local currency you might be using.

When attempting to buy something, the Xbox 360 will first convert any remaining Microsoft Points you might have into your local currency. This currency will then be available for use until June 1, 2015. You can then use this currency to buy any game or add-on from Xbox Live. If you buy any Microsoft Points cards in retail stores, the point value of these cards get converted into local currency when redeemed.

The update is available in all Xbox Live-enabled markets, which includes India

The update is being pushed out in waves, and Microsoft has told Polygon that users shouldn't panic if they don't see an immediate update. Here's the full statement: "Today we started rolling out the official release of the 2013 Xbox Live Update. To ensure a stable release, this will be a gradual deployment across members and regions. Don't panic if you don’t see an immediate update, just keep checking back in."

The move away from Microsoft Points and into real currency for Xbox Live has been rumoured as early as May this year. This is undoubtedly an attempt to streamline Xbox Live for the impending launch of Microsoft’s next-gen console—the Xbox One. It will also help the company consolidate the marketplaces of both the Xbox 360 as well as Windows 8.