Microsoft on Friday launched another trade-in program in an effort to to convince iPhone owners to switch to a Windows device. Available on the Microsoft Store website, the new deal accepts "gently used" iPhone 4S and iPhone 5 smartphones and pay a minimum of $200 for each. The company will issue the funds as a gift card good for purchases at the Microsoft Store.

iPhone owners must bring their used iPhones to a retail outlet in the U.S., Canada or Puerto Rico where a sales representative will evaluate the device and decide on the amount.

The gift cards that result from an iPhone trade-in can be used for anything Microsoft sells in its stores, including its Surface tablets and third-party PCs.

Other companies such as Gazelle and NextWorth pay between $190 and $210 for a working 16GB iPhone 4S on AT&T's network, and between $290 and $304 for a 16GB AT&T iPhone 5.

Microsoft also has a buyback program that operates online, and has already debuted an iPad buyback program.

The latest iPhone buyback program expires Nov. 3.