Despite the growing fascination towards Bitcoin, still multinationals are hesitant in incorporating cryptocurrency as their mode of payment.
Microsoft, one of the leading companies in the computing industry, recently made surprising news through a discreet application to be a money transmitter in all of America including former and current US territories.
The computer giant is now a step closer to debut their very own digital payment platform that could rival existing services such as Apple Pay, Google Wallet, and even the soon-to-be-launched Samsung Pay.
Despite having vague announcements regarding their latest development, the Company made few hints via the announcement of the upcoming Windows 10 phones and tablets where Host Card Emulation (HCE) will be present.
HCE is a method of transmitting credit card information without the hassle of passing through a secure element installed in a SIM card. Having newer devices supporting HCE, digital transactions will most definitely eliminate almost 80% of the hassle credit cards bring.
A Microsoft spokesperson stated:
“As a mobile-first, cloud-first company, Microsoft continues to evolve our offerings to meet the needs of both our commercial customers and consumers, becoming a money service business gives us the flexibility to provide new, innovative cloud services to our customers but we do not have any product announcements at this time.”
Where is Bitcoin in these developments?
However, regardless of the advancements in the field of digital and online marketing, one of the prevalent names in the news is nowhere to be found.
Bitcoin packs a lot of promise especially in this kind of field. Compared to credit card transactions and online bank transfers, Bitcoin transactions are much more secure because it is quick, easy and 100% transparent.
Despite these obvious benefits, big companies such as Microsoft, takes it in a little tight spot to associate this virtual currency because of its minority of audience. Because not everyone has access and knowledge about cryptocurrencies, corporations tend to disregard the idea in integrating them to their business.
Bitcoin as a mainstream payment method
Bitcoin is one of the primary payment methods that boost a lot of advantages. Fraud and unsecured businesses are easily tracked because of the system connected to each and every Bitcoin in existence. It also saves a lot of time because transactions only need a device, and a personal unique virtual address.
Businesses are still in the process of further study whether it is worth the risk in associating bitcoins to them. As of late, Bitcoin casinos and online gambling casinos are the few of the industries experiencing the benefits of the currency.
Several Bitcoin wallets now function on mobile devices like smartphones and tablets. The popular wallets such as Coinbase and Blockchain.info are some of the best choices for casino players who wish to carry their wallets with them wherever they go, thereby enabling them to keep playing in a mobile Bitcoin casino.
Although Bitcoin wallets can stand alone to support Bitcoin payments, the integration of the latter into the digital payment processors like those mentioned earlier will help create a user-friendlier environment for everyone in terms of making convenient payments.