Tech giant Microsoft is planning a move into host card emulation (HCE) mobile payments by preparing for the regulatory approvals needed for the launch of such a service.
Microsoft unveiled its mobile payments system for handsets running its new Windows 10 operating system last month. The system supports secure element-based payments along with HCE.
Microsoft’s move into HCE payments will enable Windows phone users to make NFC payments.
In February, Microsoft applied for licensing to be a money transmitter in all 50 states as well as an assortment of current and former US territories. Banking consultant Faisal Kahn recently found an application submitted by Microsoft at the Financial Crimes Enforcement Network (FinCEN) to be a Money Services Business (MSB), suggesting that the company is taking next steps to develop its own mobile payments platform akin to Google Wallet (or Android Pay), Apple Pay, and the yet-to-be launched Samsung Pay.