Microsoft will reveal a new Xbox Live Rewards scheme on September 1.
It will be making changes to the existing scheme - which offers players rewards for their Achievement unlocking skills - following the phasing out of Microsoft Points in favour of local currency.
The platform holder said: "With all these changes, it's become necessary for us to evolve the way we reward you. Starting August 1, 2013, you will not be able to earn Microsoft Points through Xbox Live Rewards any longer.
"Not to worry, though! Since this currency change is impacting the structure of the program, we're taking the opportunity to make Xbox Live Rewards even better.
"You'll continue to get rewarded for doing the things you love on Xbox Live - just not with Microsoft Points. So come back to rewards.xbox.com on September 1, 2013 for the full scoop."
Microsoft's plan to retire MS Points got off to a shaky start this week after beta testers for the next Xbox 360 system update found that the conversion process to real world currency left them being asked to pay significantly more for content. Responding to complaints, the platform holder called the dodgy conversion process "an unintended error" and promised to reimburse those affected.