Microsoft Said to Offer Mobile Payment System Too

  • Share
  • Read Later

It’s clear that Microsoft doesn’t want to be left behind. Reports are saying that the company is jumping on the bandwagon, along with Google and Apple to develop a mobile payment system.

According to Bloomberg sources, the first Windows 7 phones to sport the new devices would be released later this year. It’s an effort to close the gap between powerhouses Google and Apple.

Google recently teamed up with Citigroup and MasterCard as part of a new mobile payment system that they are developing in conjunction with VeriFone. Google’s also already developed an enabled model, and is expected to bring the feature to upcoming handsets. They are also expected to release their system later this year.

Likewise, not to be outdone, Apple’s next iteration of the iPhone is rumored to bring on technology as well. The iPhone 5 is expected to be launched sometime later this year. There’s been considerably less information concerning Apple’s plans, but it will be interesting to see if the company plans to something concrete in place by the time it is released.

Both Apple, Google, and Microsoft plan to base their payment system off of the same technology. The phones will utilize “near field communication,” a contact-less technology that lets objects communicate with each other, as the basis.

How each company plans to distinguish itself is unknown, but it might hinge on how widely available and accessible each system is. Whether we’ll see some sort of “loyalty” or “reward” program amongst participating retailers is a question that remains to be answered.

Let the games begin.

(via Bloomberg)

More on TIME.com:

Google Plans to Turn Your Android Phone into an Electronic Wallet

iPhone 5 Rumors of the Day

Use Your Phone to Pay for That Dress, Courtesy Google

0 comments
Sort: Newest | Oldest