Microsoft is getting some support from financial services; Microsoft Wallet is only a few months old, so support is still sketchy – but it’s getting there. MasterCard is soon going to bring Masterpass support within Microsoft Wallet.
Raj Dhamodharan, Senior Vice President for Operating Systems and Social Networks at MasterCard, made this announcement with a guest post on the Windows Blog. Microsoft Wallet integrates deeply into Windows 10, so this is a great win for Microsoft on the payments front.
Google’s Android Pay is adding support for Masterpass as well; Microsoft is going to need this partnership to stay relevant, and as Satya Nadella made It clear – he’s not going to let any new opportunities slip.
What this means
With Masterpass support, all 400 million Windows 10 devices would be able to shop at any online and physical merchants that support Masterpass. This – by proxy – helps Microsoft Wallet expand its roots and be more useful while giving Masterpass a larger audience – and therefore more money.
However, there’s one little problem: It is not clear when this support would arrive. Dhamodharan or the folks at Microsoft have not given us even a timeframe – it could be rolling out tomorrow, or after six months, for all we know.
Microsoft Wallet is already supported by some of the major American banks such as Bank of America, PNC Bank, People’s United Bank and US Bank; while more support is on the way, with Chase adding to the list sometime next year.
The payments war is a harsh one – the regulations are strict, and things generally move a lot slower than the technology business. It is no wonder then that these deals take so long to materialize – they are, after all, the matter of money.
Hopefully, with time, these payment services would also expand outside the sphere of America and into other major economies in the Europe and Asia – though, they would face major competition from local players in these markets.