What the world needs now, is one more digital wallet. So says Microsoft, at least. The company announced at its Windows Phone Summit that every new Windows Phone 8 will include a Google Wallet-like, NFC-enabled contactless payment feature called Wallet Hub.

Like the Google Wallet, the Wallet Hub will offer users a place to store payment accounts, loyalty programs, etc. with the ability to use the NFC technologies in the phone to tap and pay at the point of sale. Also like the Google Wallet, Microsoft's tool will leverage location-based services to show users where discounts and deals can be had.

The big difference between Google Wallet and Microsoft's digital wallet is that the Wallet Hub will rely on a removable SIM chip to securely store credentials, not on a Secure Element integrated into the phone. With a removable SIM chip, users can take their information from phone to phone and, at least in theory, carriers can't block the Wallet Hub like they did with Google Wallet. 

The Verge has a good write up and pictures from the Windows Phone Summit. (There are screenshots of the Wallet Hub, as well.) According to the Verge's story, companies like "PayPal, Chase, Fandango and Delta" were present for today's demo of the Wallet Hub. (Interestingly, Fandango was also a part of Apple's Passbook demo last week.)

Additionally, the Verge reports that Microsoft said it has been working with Isis, the carriers' mobile payment JV. The post quotes a Microsoft exec saying the company "expect(s) to have a solution with Isis next year," though not before the launch of Windows Phone 8.

For more stories like this, visit the Contactless/NFC research center.