CURRENT AFFAIRS

Detailed explanation-1: -Microsoft Pay (previously Microsoft Wallet) was a mobile payment and digital wallet service by Microsoft that allowed users to make payments and store loyalty cards on certain mobile devices, as well on PCs using the Microsoft Edge browser.

Detailed explanation-2: -QR Based Merchant Payment using android as the name states is used for QR code scanning for the transactions between a consumer and a merchant go Cashless.

Detailed explanation-3: -A mobile wallet is a digital wallet that stores payment card information on a mobile device. Mobile wallets are a convenient way for a user to make in-store payments and can be used at merchants listed with the mobile wallet service provider.

Detailed explanation-4: -To use a digital wallet, a user enters their card information into the digital wallet app or site. The information is encrypted and the wallet is available for use once the device is unlocked and the user authorizes the wallet. To make a mobile payment, the user holds their smartphone close to the contactless terminal.

Detailed explanation-5: -Microsoft is introducing a payment system within Teams, to be rolled out in public preview in December. The Payments app, to be found in the Microsoft Teams app store, will allow users to be paid by customers for appointments, classes, or events hosted through Teams.