Mobile money transfer has gained quite a momentum recently and the latest news is that Microsoft now wants to encash this demand. According to reports, Microsoft would soon launch Microsoft Payment that would allow users to transfer money directly from their smartphones.

Microsoft Payment vs. Apple PayThough the company is yet to launch this, the news has created a great hype and is expected to give a tough fight to Google Wallet and Apple Pay. As per reports, Microsoft has applied for money transmitting license in 50 states and may have Microsoft Payment support in the Windows 10 operating system for phones. Reports also state that the company has already received its license in Indiana.

Once they get the license for all 50 states, users will be able transfer money without assistance from third-party services or even without a secured SIM.

Existing Competitors

Apple Pay and Google Wallet have already been introduced into the market but it is noticeable that they have not strengthened presence in many areas. This gives Microsoft a good chance to make a mark in this field.

Though the company is still tight-lipped about their decision regarding the launch of Microsoft Payment, it is expected to surface by the end of this month, when they take part in the Build 2015 developer conference.