After Google's acquisition of Softcard, Windows Phone users were left without a solution when it came to mobile payments via NFC. A new filing by Microsoft suggests that a new mobile payment system is on its way and it could be here soon.
According to Faisal Khan, a banking / payments consultant, Microsoft has filed to establish a mobile payment company known as Microsoft Payments Inc; Microsoft has also registered with the Financial Crimes Enforcement Network (FinCEN). Although this could yield some type of new payment system in the future for Windows Phone, it could also just be Microsoft registering to create a placeholder.
While mobile payments have become a bit more popular thanks to the introduction of Apple Pay, it still isn't a highly utilized method of payment. Although Google's "Wallet" has been available for some time, it has failed to gain mainstream traction. Google and Apple will also face new competition in the form of Samsung's LoopPay; Samsung recently acquired LoopPay, which is currently accepted at around 90% of retail location.
Naturally, Microsoft has to be aware of the emerging importance and future of mobile payments, but will these filings lead to a new mobile payment system in the near future? That's hard to say at this time but it does appear the Microsoft is gearing up to dip its toes in the payment waters.
Source: Faisal Khan via WinBeta
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