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Microsoft preps its own mobile payments service

by Jacob Kleinman | April 7, 2015April 7, 2015 12:00 pm PDT

With Windows 10 for phones just around the corner, Microsoft is reportedly gearing up to release its own mobile payment service as well. A new report from a financial consultant named Faisal Khan suggests that the software giant has been applying for money transmitter licenses across the U.S.

The entire application process is being carried out through Microsoft Payments, Inc., suggesting the company will set up an new business to handle mobile payments. Unfortunately, these filings don’t reveal anything new about how the system will work. However, Faisal Khan does point out that it has already been approved in Idaho.

Microsoft previously revealed that Windows 10 for phones will support NFC-based mobile payments. The new operating system, at least on the desktop, is also set to work with a variety of biometric scanners, including eye, face and fingerprint scanners, so it’s plausible some of that will trickle down to mobile, too It sounds like the new service could be pretty similar to Apple Pay, which combines Touch ID and NFC technology.

With every competitor from Apple to Alibaba pushing into mobile payments, it makes a lot of sense for Microsoft to do the same. Offering its own service is a safer bet than counting on a third-party app to bring those feature to Windows 10 phones. The company still isn’t sharing many details now, but hopefully we’ll learn more at its BUILD developer conference later this month.

Faisal Khan PhoneArena

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...