Verizon, AT&T, T-Mobile confirm Isis mobile payment venture
Verizon, AT&T and T-Mobile shookhands to confirm their mobile payments venture Isis, which is set toreplace our wallets in the near future. The carriers teamed up toform a huge alliance and Google, Apple and Nokia will take part also.And we are talking about the near future as the company aims tolaunch services in key geographic markets over the next 18 months,according to Isisnewly appointed executive.
With some 200 million subscribers andthe technology already up and running in markets like Japan, it issure to bring significant change to the way we pay and shop.Actually, it is set to literally replace credit cards altogether.Given that recentlyGoogle confirmed its intention to bring mobilepayments support to upcoming Android 2.3 and that Nokia said it willfollow suit with some devices running Symbian^3, the way for Isis ispaved.
The service relies on near-fieldcommunications chips embedded into handsets and Google's own EricSchmidt stressed that security will be the priority and outdo thecurrent magnetic card system. Join our discussion below withyour opinion on this.