Microsoft forays into the world of Payments. Gets their 1st Money Transmitter License

Microsoft Money Transmitter License

Microsoft has officially entered into the domain of payments, with Microsoft Payments, Inc.,

When the announcement came out a week or so ago, that Microsoft was entering into the world of payment (see references below), it was only natural to search the various State financial regulators websites for issuance of money transmitter licenses.

Below is a screen shot from the NMLS (Nationwide Mortgage Licensing System & Registry or Nationwide Multistate Licensing System) that shows the license(s) on file on behalf of Microsoft.

The State of Idaho (Department of Finance) was one of the first ones to issue the money transmitter license to the Redmond giant. The details of the licenses as and when Microsoft gets them in the NMLS can be viewed here.

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The filing attorney is Melissa Zaineb (as highlighted). The compliance & filing assistance was done in conjunction with Chartwell Compliance. Microsoft has filed for all 50 States for their money transmitter licenses.

Microsoft’s FinCEN registration (PDF) can be seen here:

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With the grant of the Idaho Money Transmitter License, Microsoft has formally entered into the world of payments.

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