As mobile payments markets raise in the US, Verizon, AT&T and T-Mobile are stepping up in the market with ISIS. Mainly Isis is a system for using an app on your phone to send payments to a point-of-sale purchase (POS) system using NFC technology. Isis is working with Discover Financial Services’ payment network that has over 200 million customers and is accepted at over 7 million locations worldwide. Currently ISIS is not without competition.
As the 3 moguls plan to invest roughly $100 million in an effort to roll out Isis nationwide; this will result in a good way, as ISIS will be building a mobile payment networks and cut out the competition.
Verizon Wireless, AT&T and T-Mobile USA first announced Isis in late 2010, promising services enabling consumers to conduct point-of-sale transactions, redeem coupons and use store merchant loyalty cards via mobile device.
Isis initially stated it would roll out its own Near Field Communications-based
contactless payment network designed to go head-to-head with the likes of Visa and MasterCard, teaming with Discover Financial Services to build out the necessary mobile payment structure and naming Barclaycard US as its first issuer partner.
Recently, Visa, MasterCard, Discover and American Express announced that they are officially joining Isis. This move significantly expands the payment options available to mobile subscribers.
By utilizing smart-phone and near-field communication (NFC) technology to modernize the payments process, Isis intends to deliver new levels of competition and value to consumers and merchants. ISIS will fundamentally transform how people shop, pay, and save. The Isis mobile commerce network will be available to all merchants, banks, and mobile carriers.
Google Wallet vs. ISIS
Google announced the launch of Google Wallet. Google Wallet is a mobile wallet initiative. Mainly major wireless and banking players and market innovators see the importance of working together; this cross-industry collaboration is fundamental to driving tomorrow’s multi-channel consumer experience. Google wallet is a great service, but ISIS will dominate the market due to the support of the 3 moguls of telecommunications in the US. Google is new to the market frankly speaking. As Google acquired Motorola recently this will help to launch more telecommunication applications as Motorola is a big player
in the industry.
The features of the Google wallet are better than ISIS, by software to help the customers manage their personal financial services. It provides the means of keeping track of personal expenses, personal debt and subsequently helps the calculation of a person’s
net worth financially. It provides:
• Calculation of income level
• Calculation of expenses
• Personal debt management
• Calculation of a person’s financial net worth
For more information about Mobile Commerce, see: