share its Google Wallet revenues with Verizon and AT&T. This would give the latter two carriers a monetary incentive to see Google Wallet succeed. But there is a hang-up with this plan. Verizon and AT&T along with T-Mobile are part of a competing mobile payment system called ISIS. And while ISIS has yet to launch, it already seems to be ahead of Google Wallet thanks to a number of partnerships that the start-up has entered into.
But Google didn't get to where it is now by not thinking ahead. The company has a back-up plan and if the carriers refuse to join the Google Wallet team, Google will forget about them and instead, put up payment terminals that would send payment information directly to Google's servers thus eliminating the need for the carriers. The only problem there is that these terminals would require more of an investment from Google. Hopefully for Google, the carriers will agree to the revenue sharing plan, although that is far from being a sure thing. After all, ISIS will soon be launching and as we said, it appears to already be where Google Wallet needs to go.