Mobile payments are becoming popular with major key players having their own smart payment solutions for their devices. Apple has Apple Play, Google has just updated Wallets, and Samsung introduced Samsung Pay, available in the US and Korea later this summer, followed by more regions later. Now it looks like Microsoft is also working on a smart payment solution, which may see the light of the day in the coming months.
A recent report revealed a license filed by the software giant with the regulatory bodies for a mobile payments company known as Microsoft Payments Inc. The State of Idaho (Department of Finance) was among the first ones to issue a money transmitter license to the company, but the report mentions Microsoft has filed the license for all of the 50 states in the US. The company also registered with the FinCEN (Financial Crimes Enforcement Network) in the US Department of Treasury as well.
So, there’s a possibility that Microsoft may launch a mobile payment solution, but will it be fruitful considering the competition it has to face from its rivals? Apple Pay is quite popular among iOS users, and there are other mobile payment services as well such as Google Wallet. As for Windows Phone, it still behind the competition as the key smartphone players are a little reluctant on using the platform for its flagship devices.
We’ll update you as the story develops, until then, take it with a grain of salt — but stay tuned as the story develops!
Thanks Ethan for the tip!!Further reading: Microsoft, Microsoft Payments, Mobile payments