Could Microsoft Corporation (MSFT) Wallet Become A Major Player In The Market?

The Microsoft logo is displayed over the Microsoft booth at the 2010 International Consumer Electronics Show at the Las Vegas Hilton Jan. 7, 2010 in Las Vegas, Nevada.

Microsoft has introduced an NFC payment feature for users of Windows 10 Mobile devices in the U.S. through its Microsoft Wallet app. Vole claims the move comes “in response to feedback” from its customers and with support from both MasterCard and Visa.

Launching on the native platform initially is a smart and logical move on Microsoft’s part, but the buck should not stop there and the Redmond firm must have it in their plans to provide the service to iOS and Android users as well to cater to a much wider audience. That being said, Microsoft Wallet is also similar to other mobile wallets we’ve seen, in which users can use the feature to store things like membership/loyalty cards so that they can scan them on the spot.

It is up and running on Microsoft Insiders, a group of early adopter customers who volunteer to preview new features, and general availability of NFC payments is promised for later this summer.

Microsoft’s Wallet is now supported by banks such as Bank of America and Chase Bank A full list of banks and credit unions supporting them can be seen here.

There are a number of hurdles for why Android Pay, Apple Pay, Samsung Pay and now Microsoft Wallet will not work in India. He added that while Microsoft account holders can now access secure payment information in the digital Xbox, Office and Windows stores, they wanted more. The company is happy that the customers can now experience easy as well as more secure transactions, he added.

Looking for a mobile wallet to use on your smartphone?

We have another mobile wallet in the ecosystem, and this time it’s from Microsoft. In fact, the most prevalent security vulnerability discovered among mobile payment apps in our 2016 State of Application Security Reportwas a lack of binary protections, potentially enabling cybercriminals to tamper with the app to steal personal data or launch other malicious activity.