x PhoneArena is looking for new authors! To view all available positions, click here.
  • Home
  • News
  • Verizon, AT&T and T-Mobile plan to inject over $100 million to speed up the launch of mobile payment network Isis

Verizon, AT&T and T-Mobile plan to inject over $100 million to speed up the launch of mobile payment network Isis

Posted: , by Victor H.

Tags:

Verizon, AT&T and T-Mobile plan to inject over $100 million to speed up the launch of mobile payment network Isis
You might have forgotten about Isis, the joint mobile payment effort of Verizon, AT&T and T-Mobile, but the carriers’ over $100 million injection into the service brings it back in the spotlight. The exact amount will depend on how banks react to Isis. Designed as an alternative to Google Wallet, which is backed by Sprint and seems to be already getting traction, Isis offers a payment network working via near field communications (NFC). The carriers have partnered with Visa, MasterCard, Discover and AmericanExpress, and seem to have been quietly working on the service, which seems on track to launch in Salt Lake City in early to mid 2012.

If the service increases its followers and catches up with Google, the three carriers may pour huge sums of money as the overall mobile payment market is expected to reach $670 billion by 2015. This year alone, mobile payments are expected to amount to $240 billion. The service, though, won't focus on payments solely, but also allow consumers to redeem coupons and use their store cards. 

One of the biggest swing factors in the Isis equation is Visa, which is simultaneously working on a mobile payment solution of its own. The carriers' outreach however might make it turn to them with Isis, which has only announced local rollout plans as country-wide launch plans are yet to be uncovered. Those are not the only options for future transactions, though - feel free to check out our comprehensive coverage of mobile wallet solutions, to get a sense of what's to come.

source: Bloomberg

6 Comments
  • Options
    Close




posted on 29 Aug 2011, 10:26 2

1. PotDragon (banned) (Posts: 214; Member since: 22 Jul 2011)


Yeah...last thing in the world I want is my cell company more involved in my life.

For the consumer, where is the benefit? Think these companies spending that kind of cash with no planned return on investment? Go to tiered data...then start "mobile" payment. How much you want to beat the encrypted downloads will not be measured in kbs?

Banks & cell companies working together...oh yeah! Better hold on to your actual wallet.

posted on 29 Aug 2011, 11:22 1

2. remixfa (Posts: 14077; Member since: 19 Dec 2008)


i didnt think much of it until you mentioned the "measured in Kbs". While I doubt we would use it enough to put any real marks on our data usage, i wouldnt put it past them to say "each NFC payment counts as 1 megabyte" or something stupid like that to help inch people over their MB allowances.

posted on 29 Aug 2011, 15:23

3. Rawrzellers (Posts: 224; Member since: 22 Aug 2010)


Yes because that's exactly what they want to do. Sabotage millions of dollars in investments and have companies pulling out left and right because no one can afford to use the service.

posted on 29 Aug 2011, 19:59

6. remixfa (Posts: 14077; Member since: 19 Dec 2008)


sabotage what? no, its called getting the investment back. If they can get all their customers to go over their data plans just once, they made back their investment with interest. Most customers wont even notice.
Do i want them to do that? heck no. Do they have a history of doing just that? oh yea they do.

posted on 29 Aug 2011, 20:18

7. s (unregistered)


this is stupid ... so i would bother taking out a phone open the app and scan or whatever when i could just take my card out of my wallet to pay i mean if i use this service and my phone get stolen that also means that my wallet is stolen ...and if i take both my wallet and phone out if my phone get stolen then its just my phone

posted on 29 Aug 2011, 17:03 1

4. DigitalMD2 (unregistered)


Yeah, how about giving your cusstomers a better, cheaper, faster data plan insted of throwing away millions on crap.

Want to comment? Please login or register.

Latest stories