Microsoft may be working on its own mobile payments service to challenge Apple Pay.
According to a recent report, Microsoft is planning to step into the mobile payments fray with Microsoft Pay. Blogger Faisal Khan discovered that Microsoft has set up a new US-based company called Microsoft Payments Inc.
The new venture was recently granted a licence by the State of Idaho Department of Finance for money transmission, which suggests that a digital payments service is in the works.
Microsoft has yet to comment on the rumoured product development.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.