A new report says that an upcoming dashboard update of Xbox Live will bring about a number of changes to the service - and discontinue the use of Microsoft Points as retail currency on the network.

The news comes by way of the tech site The Verge. According to Verge: "Microsoft will also phase out the use of its Points system with this dashboard update, replacing it with currency and gift card options."

The Verge report says that update, which should enter a public beta in June or July and be pushed out to consumers in August, will also update the look and feel of the user interface, and features "live tiles" similar to what we've seen on Windows Mobile. For more detail, read the original story on The Verge.

[Source: The Verge]