Amazon Announces New Currency For Kindle Developers

It’s really a over performing period for Amazon. Yes. Either, product bench mark or sales target, Amazon got a clear win in all aspects and absolutely a broad victory. Now add into the list, This Tuesday, Amazon has officially launched their Amazon virtual coin! A new virtual currency/Coin concept from Amazon for their Kindle app lovers!.

Amazon Coin

The official product launch happened yesterday, and the concept is going to be live first at US by May2013 and eventually to rest of the world. So, What does Amazon coin offers? Basically, its Amazon owned virtual coin where Amazon app developers can shop their Kindle apps, Games, downloads, music and other products using this Amazon coin as similar as buying through their credit cards. When the product becomes official, developers could able to see two payment checkout options, like regular card payment along with this new coin currency option. Customers can buy the coins though Amazon and can use for their e-commerce shopping.

I really love the concept and wonder about Amazon’s new marketing strategy, where it clearly points to increase the sales of Kindle Fire to take it next level. As Amazon words, “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”! The Amazon coin is worth of one cent per coin and can be redeemed by all kindle vendors.

So to get familiarize, Amazon does offers many attractive schemes for their developers, like, the developers can enjoy considerable percentage of price cut-off for all their coin shopping!. This will surely fuel more interest at developers community who closely follow Amazon to shop around. Also, It may be hard to believe that, If this action and concept works great, developers might prefer to shop only though coins down the road and credit card driven shopping could be ruled out eventually. But, Still it’s long way to go.

Also, If we look closer, you can understand where Amazon would like to drive. Already the Kindle Fire got a massive success and is exceedingly performing well. So, Amazon wants to take a leap curve to increase the sales volume and wish to create more appeal at developer’s community and also with customers for long term relationship. To achieve the target, they first need avid app developers where these kind of new marketing trend would surely help. As we know, Apple, Google and Microsoft are simply ruling on their podiums with their blue chip products and Amazon slowly becoming an another monster in the list. We know, Amazon already marching successfully at, E-commerce, Web services, Data centers, Tablets, and I believe the next would be Banking, Finance and engineering!.

For now, its a waiting period and can see, How Amazon is going perform with this intuitive concept. Let’s wait and watch!.

How you foresee the Amazon’s new coin concept? Just share your views.

Image Credit: Amazon

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9 Responses to Amazon Announces New Currency For Kindle Developers

  1. Sounds interesting Manickam!

    Amazon is surely coming up in a big way. The introduction of the virtual coin will make things more easier for Amazon I think, and there will be easier and better ways for app developers can shop for Kindle apps, and other products instead of using their credit cards.

    Thanks for sharing this information with all of us. :)
    Harleena Singh recently posted..6 Steps to Have Loving and True Friends in LifeMy Profile

    • Hi Harleena,
      Yes. I am on the same page. Amazon really doing great job these days and top on the list. Every one eyes their next move and I believe,the success of Kindle Fire creates confidence for them to try new path.

      This concept looks really attractive to me and yet to see how it will reach developers when become live. :) Let’s wait and watch. Thanks for stopping by and pass your views.
      Manickam Vijayabanu recently posted..Amazon Announces New Currency For Kindle DevelopersMy Profile

  2. Mayura says:

    Hi Manickam,

    It takes me to the time that Facebook started with Credits ;) They have failed, but I believe Amazon has a huge potential to grab attention of their customers and it will add up security for customers who used to do transactions using their Credit Cards all the time.

    As app developers don’t need to worry about a new API or whatsoever, I think it’s a wonderful addition :)

    However it’s customers who would love it and need to love in order to Amazon to count on this new feature :) Let’s keep watching what it will bring to Amazon in return.

    Cheers…
    Mayura recently posted..Save Web Content or Pages to View Later with PocketMy Profile

    • HI Mayura.

      Yes. You have nailed the right point. Security!. Since Online card transaction already facing potential issues and threat at many situations, it would become a right and secure choice for core app developers. :)

      I really like the concept and marketing strategy where it would surely boost up their Kindle sales. However, Consumers are the final judge to make it success..and let’s wait and watch the progress.

      Thanks for your visit and comments Mayura :)
      Manickam Vijayabanu recently posted..Amazon Announces New Currency For Kindle DevelopersMy Profile

  3. Adrienne says:

    Huh, I’m thinking this one is a little over my head. I mean if they already have gift certificates then I would think why wouldn’t they just credit a developer’s account instead of creating this concept. Okay, I admit not being a big shopper on Amazon Manickam but since I’m not big on apps and am definitely not a developer perhaps I am just not seeing the true benefit.

    Thanks for sharing though, I’m sure a lot of people will be pleased with this announcement.

    ~Adrienne
    Adrienne recently posted..How To Build A Responsive ListMy Profile

  4. Hi Adrienne,

    I am glad that you found the article interesting.:)

    You are right. This concept truly goes for App developers, and if I am right, Amazon might extend this service with regular shoppers down the road, if they really see good potential. At least for now, this may trigger more interest at developers community since Kindle app becoming a 3rd top on row after Apple and Android.

    Other way, The could potentially change the typical card transaction method and might keep customers happy, since few card payments are getting service fee on some cases. However it requires some break even period when it gets rolled out. Let’s wait and watch the game. :)

    Thanks for your views and comments for the post Adrienne. :)
    Manickam Vijayabanu recently posted..Amazon Announces New Currency For Kindle DevelopersMy Profile

  5. Carolyn says:

    Hi Vijay, I’m excited about this development. I see huge potential for this form of currency. Parents can give Amazon coins to their kids as an allowance. Amazon may give coins to its customers as incentives for behavior such as using 5-7 day shipping instead of 2 day shipping for Prime customers.

    I will be very interested to see how this plays out once it is launched later this year.
    Carolyn recently posted..Irresistible Tech Gifts for Valentine’s Day!My Profile

  6. MediaCrayon says:

    Hi Carolyn.
    Sorry for late response to your comments.

    Yes. As you have mentioned, Amazon paving a new path through this currency venture and looks really interesting. Absolutely! Its a great gift for Prime customers too :) Let’s wait and see how its going to progress once launched.

    Thanks for stopping by and add your awesome comments. :)
    MediaCrayon recently posted..Amazon Announces New Currency For Kindle DevelopersMy Profile

  7. Mani – I had not read about this amazon virtual coin anywhere before…looks very interesting and as most of the other commenters here, I think it can lead to a very different business model.

    I am a regular at Amazon and recently got my prime membership as well, let us see if they apply this feature throughout the site for every customer :-)
    Praveen Rajarao recently posted..Maximizing SEO with Images and PhotosMy Profile

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