Microsoft is sending out e-mails to Xbox Live users to let them know that the next Xbox 360 system update will eliminate Microsoft Points.

As we make this transfer from Microsoft Points to to real-world currency, not much will change, except the currency used to make purchases. Your current Microsoft points will be converted to money after the update, and it's important to note that those converted funds will expire on June 1, 2015.

There are no plans to discontinue the acceptance of Microsoft points, so there is no rush to redeem codes if you have a few lying around. In the future, there will be gift cards available for purchase at retail locations for use online if you're wary of lending Microsoft your credit card.

You can check out the full text of the e-mail on page two, as well as a full FAQ on the change on Microsoft's website.

Our Take
Good riddance! Every time I write a news post about a multi-platform digital release, I have to write the game's price as it will appear on the PlayStation Network and PC (and any other platforms), and then I have to write a separate few words dictating the Microsoft points amount on Xbox Live. It's annoying and time consuming! I'm sure this is a problem everyone can relate to, and is likely the main motivation behind the currency switch.