News

Microsoft Payments on the horizon

Microsoft has applied for state money transfer licenses to act as a money transmitter.

April 9, 2015

Microsoft Payments appears to be on the horizon, as the software giant has applied for state money transfer licenses, according to a report in USA Today.

The publication said Faisal Khan, a banking and payment consultant, discovered Idaho was the first state to issue Microsoft a license.

Khan also found that Microsoft Payments Inc. registered with the U.S. Treasury Department’s Financial Crimes Enforcement Network as a money transmitter and as a company that provides and sells prepaid access.

Last month at a conference in China, Microsoft showed a video that featured a "tap to pay" function with Windows 10 mobile that uses HCE.