Microsoft is retiring the MS Point system currently used on the XBOX Live marketplace. Instead they will utilize local currencies for an easier overview of costs for the users.
This does not mean that your saved up points will disappear, nor will the point cards be useless, you will be able to convert your points into your local currency until June 1st 2015, so you have almost 2 years to get used to the change.
What do I need to do?
According to Microsoft, this is what you need to do to ready your system for this change:
As long as your Microsoft account location is set to one of the following countries or regions and you have a billing address on file in your account, you simply need to initiate a purchase or redeem a Microsoft Points card or code with your Microsoft account to begin your account transition.
This change brings both positive and negative changes, depending on your view of course. For one, it will eliminate the “gray market” of MS Points that currently exists, where people buy point cards in countries where you get more points per coin and use in countries in the same region where the value of the point is less and therefore increase the value of their own points per coin.
On the other hand, it also eliminates the “leftover points”, as the point system rarely gave the exact amount of points you needed for your purchase and many people got left with some points that they couldn’t use after their purchase.
To learn more about this change, check the Xbox.com FAQ.