The Launch of Windows 10 Mobile Can Shake Up Mobile FinTech Industry

Various FinTech companies are keeping a close eye on the mobile industry, as this seems to be the payment medium of choice for consumers all over the world. One of the operating systems developers often forget about is Windows Mobile, albeit its market share is growing. Now that Windows 10 Mobile is coming soon, FinTech companies would do well to ensure their solutions are compatible with this ‘unified Windows experience across devices”.

Also read: There Is No Such Thing As a Global FinTech Solution

Android And iOS Are Important Points of Focus

Regardless of how one wants to look at the mobile ecosystem, there are two main operating systems that need to be supported by FinTech developers at all times. Both Android and iOS have a significant market share, and making financial solutions available to both of these platforms will be a determining factor in the success of mobile payments.

Developing FinTech solutions for iOS is vastly easier than it is for Android, due to its uniform operating system and the small list of supported devices. Android, on the other hand, is used on a wide variety of devices, ranging from smartphones and tablets to microcomputers, hybrid laptops, and even specific game consoles.

Supporting all of those devices is not an easy task, as every machine runs on different hardware that needs to support the technology powering new FinTech solutions. Plus, from a designer point of view, making sure applications scale equally well on four-inch and fifty-inch screens can cause quite a few headaches.

However, there is also a problem with both mobile operating systems, as they are owned by Apple and Google respectively. Both of these companies are working on their own mobile payment solutions — Apple Pay and Android Pay — which creates direct competition for the FinTech industry in a way. Depending on how a new FinTech solution operates, consumers might favor the “baked-in” solutions by the operating system over anything else.

Keeping An Eye on Windows 10 Mobile And Beyond

One of the mobile operating systems often neglected is Windows Phone/Windows Mobile. Lumia users have been stuck with Windows Phone 8.1 for quite some time now, despite promises by Microsoft to release Windows 10 Mobile soon. By the look of things, this long wait is finally over, as the update should roll out in the next few weeks.

As a result of this update to Windows 10 Mobile, Lumia users — of which there are plenty, especially in developing countries — will have access to the same Windows 10 experience as on their computer or laptop, creating a unified ecosystem across devices. This drastic change creates an interesting mobile landscape for FinTech companies as well.

In fact, FinTech companies need to start preparing Windows 10 Mobile support if they are active in the mobile space at all. While the market share of this operating system is fairly low, it’s popularity in developing countries can not be denied. Plus, once a unified experience between computer and mobile can be created by Microsoft, more users might buy a Lumia device running Windows 10 Mobile.

Whether or not this is a gamble that will pay off for FinTech developers, remains to be seen. A lot of the potential success of Windows 10 Mobile hinges on its actual release date = which is still unknown at the time of publication — and how bug-free the experience will be once millions of people start using it.

What are your thoughts on Windows 10 mobile? Is it worth considering for FinTech companies to make their apps compatible? Let us know in the comments below!

Source: TechRadar

Header image courtesy of Microsoft

Originally published at Fintechist.

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