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.
“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.
The 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.