Many large tech companies have stepped into the ‘payment’ segment. Apple Pay, Samsung Pay, and Google Wallet are just a few of the big household names. Behind all these big names is also a successful product or platform. Perhaps that is why Microsoft’s move in the segment is more remarkable. The company has also entered the market of the mobile payments.
In February last year, Microsoft Corporation had discreetly applied for a license pertaining to money transmission throughout the United States. Less than a month later, in March, the company was authorized in the state of Idaho.
Microsoft had also announced earlier that it would get virtual credit cards mobile support to the Windows 10. A top Microsoft executive then said the Windows wallet would store coupons and membership information, to improve both the in-store payment experience and online payments with Windows devices.
The next step now seems to be announced, because a Wallet app is published in the latest internal version of Windows 10 mobile. This internal version is a prelude to appear in the summer anniversary update of the mobile platform. It is still the question of whether the service, therefore, will be rolled out everywhere or some specific regions.
Apple, Samsung, and Google have a sizable customer base that is interested in mobile payment. Microsoft has still not really established a foothold on the mobile platform ground. With a market share of less than 2 percent worldwide, whether the mobile payment can bring Microsoft a huge success is yet unpredictable.