In yesterday’s Windows Phone Summit, Microsoft also introduced Wallet for the upcoming Windows Phone 8 along with other fascinating features. Wallet makes use of two different features and combines them into one. One is the support of near-field communication (NFC) for transactions and the other one is an account manager to credit cards, flier passes and other personal information that are frequently used.
The Wallet will combine with the existing Windows Phone feature of ‘Hub Model’ that will give the users fast access to their personal and financial information and data stored, and also enable them to make payments of near-field communication support at places where such systems are installed. Within the storage area, user can store instructions for payments, loyalty cards and also certain deals’ information.
Developers will have the access to add and remove items present in the Wallet, define instruments of payment and make use of NFC support, thereby giving them another great support on the platform of Windows Phone 8. Wallet can also be linked with in-app purchases by the developers, yet another feature added in the Windows Phone 8 devices.
To talk about competitors, while Android has the option for NFC via Google Wallet, Apple has Passbook that allows the users to store and manage personal information. And if you look at it, Windows Phone 8 will combine both these features and offer one single Wallet feature to its users.
Another great feature of Wallet is enabling of transactions through PayPal officially in the Windows Phone 8 devices. This will allow users to avoid use of their credit cards that often or use carrier-billing to make payments. This gives them another option to make payments on external sources directly via PayPal through this new in-app payment system launched on WP8 platform.