AT&T, T-Mobile, Verizon Working Together On ISIS NFC Mobile Wallet System
Sensing perhaps that working by themselves on such an important matter might be inadvisable, AT&T, T-Mobile, and Verizon have announced a joint effort, called ISIS, intended to be a virtual wallet and mobile payment system. There are very few details, but the stated goal of replacing “cash, credit and debit cards, reward cards, coupons, tickets and transit passes” is certainly bold enough. I mean, bold if you don’t think about all the countries that have had systems like this for years.
Yes, although we’ll be playing catch-up to Japan and South Korea, among others, with luck the major carriers will be able to provide a system that’s broader and more universal. They’ll have to parley with credit card companies, small businesses, and government on various levels, though, so I doubt ISIS will be arriving in a hurry.