Microsoft Launches Mobile Wallet
June 23, 2016
Microsoft on Tuesday unveiled its Apple Pay/Samsung Pay/Android Pay competitor Microsoft Wallet that enables NFC contactless payments at the POS for devices running Windows 10 Mobile. Initially, the cloud-based service will be available on Lumia 950, 950 XL and 650 devices. The company said it supports MasterCard and Visa payments on cards issued by Bank of America, People’s United Bank and several credit unions. Microsoft expects to close deals with Chase, US Bank and Fifth Third Bank “soon.”
At the moment, Microsoft Wallet is strictly an in-store payment method, according to a Microsoft spokesperson, who called it a “first step in empowering users with an easier and more secure way to pay for their purchases.” Apple Pay, which had been available as an in-app online payment method since its inception, recently announced its intention to compete with PayPal as a payment method for traditional e-commerce sites accessed by desktops or laptops through the Safari Web browser. Android Pay also has in-app capability and a Samsung Pay executive this winter told a Reuters reporter the service would be available online in 2016.