The next system update for the Xbox 360 will bring the end of Microsoft’s Point system. After the update, an amount of currency equal to or greater than the value of your remaining Microsoft Points will be added to your account.

Finally.

Xbox 360 users will be able to purchase real-world currency using a credit card and Xbox Gift Cards with local currencies will be rolling out at the end of the year. Existing Microsoft Points cards will still be valid, as they will just be converted to a local currency similar to that of the remaining points in your account. The company says that it will continue to accept Points cards and codes.

The next system update for the Xbox 360 has been in beta testing since last month, but no timetable for its release has been announced. Microsoft tends to release updates to the Xbox 360 in the fall.

Whenever it does arrive, I’m just glad to know we’ll soon be rid of the confusing Points system.

[via Xbox, Polygon]