Microsoft Securing Regulatory Approvals for Mobile Payments

April 9, 2015

Microsoft Securing Regulatory Approvals for Mobile Payments Microsoft has registered as a money transmitter with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), setting the stage for its entry into the mobile payments race dominated recently by Apple, Google and Samsung. According to published reports, in addition to registering with FinCEN, the company secured a money transmitter license from the Nationwide Multistate Licensing System in Idaho and has filed for similar licenses in all 50 states.

In March, Microsoft demonstrated a contactless payments system leveraging Host Card Emulation (HCE) for handsets running its new Windows 10 operating system. HCE is a software solution debuted more than a year ago by Google in its Android 4.4 operating system that enables NFC purchases without access to a secure element within the handset, usually controlled by mobile carriers.

Microsoft has not confirmed reports that it will include a contactless payment ability in Windows 10 smartphones.