Microsoft Payments Inc: the future of Windows mobile payments?

Microsoft Payments Inc: the future of Windows mobile payments?
A couple of weeks ago when Microsoft announced that Windows 10 smartphones will come with support for NFC payments, the company did not mention exactly what the future of Windows Phone payments is going to look like. Recently, it was discovered that Microsoft itself might be the facilitator of Windows 10 payments, as the tech giant recently filed for a money transmitter license in all of the 50 states that form the United States of America.

Faisal Khan, a banking and payments consultant that specializes in cross-border money transfer and payment systems, recently discovered that Microsoft Payments Inc. (a Microsoft subsidiary company) has filed for a money transmitter licence in the US. Documents show that the state of Idaho has already granted Microsoft its money transmitter license, which means that Microsoft Payments Inc. has now officially entered the mobile payment game.

Although mobile payments have yet to take off, Microsoft's smartphone operating system is currently behind the mark in the emerging market. Apple Pay is the leader in market share, followed by Google Wallet, a payment platform made stronger by the recent Softcard integration. Samsung's acquisition of LoopPay is thought to materialize in a third major mobile payment platform as the Samsung Galaxy S6 is now rolling out with Samsung Pay pre-loaded. Since none of the major payment solutions currently work on Microsoft's mobile operating system, the news that Microsoft Payments Inc. plans to enter the US payment market doesn't come as a major surprise. As Windows Phone currently holds a negligible slice of the smartphone market, Samsung, Apple, and Google are not likely to fret over this recent discovery. 


source: Faisal Khan

FEATURED VIDEO

4 Comments

2. sr1030nx

Posts: 2; Member since: Apr 07, 2015

The author isn't thinking of the big picture, every win 7 & 8 PC will get a free upgrade to win 10, in addition to the phones. This makes Microsoft payments potentially huge, especially if it's easy to use.

3. sr1030nx

Posts: 2; Member since: Apr 07, 2015

Not to mention Xbox.

4. Jason78

Posts: 281; Member since: Apr 10, 2013

Yeah!! Another mobile payment system that no stores will accept!

5. elitewolverine

Posts: 5192; Member since: Oct 28, 2013

THey don't have to accept it. This is a payment system that bypasses carriers and the likes. If you see a tap to pay system, which where I live in a state, nearly everyone has one, this will automatically just work. They already have visa, mastercard, amex support.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.