Isis has partnered the four dominant US
payment networks MasterCard, Visa, Discover and American Express
cementing its strategy to create a flexible and open NFC m-payments
platform.
The newly-formed relationships will provide
wide network acceptance services for Isis-enabled mobile phones and
payment terminals gifting US consumers in the US the freedom to
choose their mobile payment network provider.
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“By working with the nation’s payment
networks, we significantly advance the vision of an open and secure
platform that provides banks and merchants with a new and highly
relevant way to connect with consumers,” said Michael Abbott, CEO
of Isis.
Isis will use NFC technology to allow
consumers to make secure purchases, redeem coupons and store
loyalty cards all with the tap of a mobile phone.
Salt Lake City, Utah and Austin, Texas have
been announced as initial launch markets for the scheme set to roll
out in the first half of 2012 with the support of the four payment
network providers.
“We fully support an open commerce ecosystem
which will drive the scale necessary for widespread adoption of
mobile payments, providing consumers with exciting new
possibilities for shopping and saving,” said Ajay Banga, president
and chief executive officer, MasterCard Worldwide.
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By GlobalDataThe move proves an interesting u-turn on Isis’
original plan which was to provide a competitive alternative to
MasterCard and Visa through mobile commerce.
Isis is a joint venture between AT&T
Mobility, T-Mobile USA and Verizon Wireless, which was created in
November 2010.
