Carriers Bag Isis Plans, But Still Prepping Mobile Wallet
May 4, 2011, 10:48 AM by Eric M. Zeman
According to sources cited by the Wall Street Journal, AT&T, T-Mobile USA, and Verizon Wireless have given up on the original goal of their Isis joint venture. Isis was to create a nationwide network of point-of-sale terminals in retail stores that would accept payments made through mobile phones. Discover Financial Services was to provide the banking resources. Now, the Journal says that these plans have been shelved due to the cost and time needed to build the network. AT&T, T-Mobile USA, and Verizon Wireless now plan to develop a mobile wallet with the help of Visa and MasterCard. The mobile wallet service will still likely use near-field communications to enable the wireless transactions. Google has added support for NFC to its Android platform, and RIM announced its first BlackBerry with NFC this week. Specifics of this new direction for Isis aren't yet available.
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