14 DAY TRIAL // Microsoft is working on its very own payment system that would be launched in the United States to compete against similar services from Apple and Google, and thus breathe life into its products, including Windows Phone.
Redmond hasn’t officially announced its plans for such a service, but today banking consultant Faisal Khan has revealed an entry in the National Mortgage Licensing System and Registry (NMLS) that appears to confirm the company’s efforts to receive the approval to perform money transfers across the United States.
Until now, Microsoft has only received a license in Idaho, but according to reports, the company submitted a request in all 50 states, so more approvals are likely to be offered very soon.
While Microsoft has decided to remain tight-lipped on this new service, a company spokesperson has indeed hinted that launching a payment service is indeed on the table, suggesting that this would create additional opportunities to reach more customers.
“As a mobile-first, cloud-first company, Microsoft continues to evolve our offerings to meet the needs of both our commercial customers and consumers. Becoming a money service business gives us the flexibility to provide new, innovative cloud services to our customers but we do not have any product announcements at this time,” a statement reads, according to GeekWire.
Windows Phone needs it
Out of Microsoft’s full portfolio, Windows Phone is the product that needs a payment service more than anything else, as right now there’s no way to use NFC payment capabilities in the United States.
Softcard, the only service that was providing such features to Windows Phone users in the United States, removed its Windows Phone app and shut down its services, after having been integrated into Google Wallet, following an acquisition revealed earlier this year.
Windows Phone is also projected to receive the upgrade to Windows 10 later this year, so launching a payment service together with the new operating system would better position Microsoft’s mobile platform against rivals Android and iOS.