Visa is accelerating its efforts to dominate the mobile payment space, Reuters reported on Monday. Visa is no stranger to mobile payments. It began trialing an iPhone NFC payment solution in Europe early this year, has plans to work with Samsung on a system for the 2012 Olympics, and recently announced that it has partnered with ISIS for the development of a mobile payment network in the United States. “As mobile payments and other chip-based emerging technologies are poised to take off in the coming years, we are taking steps today to create a commercial framework that will support growth opportunities,” Visa’s global head of product Jim McCarty told Reuters. More →
MasterCard announced earlier this week that it would partner with with ISIS to help foster the growth of NFC-based mobile payment solutions in the U.S. ISIS, formed in November last year by Verizon Wireless, AT&T and T-Mobile, intends to deliver a complete mobile wallet solution that ambitiously aims to replace cash, credit cards, debit cards, coupons and more with one comprehensive mobile solution. So we know about ISIS and now we know MasterCard is on board, but MasterCard is hardly a newcomer in the contactless payments space. BGR recently had a chat with MasterCard’s Senior Vice President of Mobile, James Anderson, to discuss the past, present and future of mobile payments here in the U.S. Of course NFC-based contactless payment solutions are at the forefront of discussions surrounding the mobile payment space right now, and who better to discuss NFC with than the man recently named Vice Chairman of the NFC Forum? Our full Q&A with Anderson can be found below.
BGR Interview is a series of interviews and conversations with executives, influencers, tastemakers and innovators, covering the mobile and consumer electronics industries. More →
American Express, Discover, MasterCard, and Visa announced a new partnership with ISIS on Tuesday. ISIS is a mobile initiative that was formed in April of last year by AT&T, T-Mobile, and Verizon Wireless in an effort to help foster the growth of using near-field communications for mobile payments. It’s currently being tested in Salt Lake City and Austin. Tuesday’s announcement means that, as the mobile market moves closer and closer to a time when we can actually use our phones to make tap-and-go payments, consumers will have more payment options. MasterCard also teamed up with Google and Sprint on Google Wallet, which will launch in the future for Android-powered smartphones. We’re not sure why Sprint has held out on joining ISIS, but we hope it jumps on board soon to save consumers from a fragmented mobile payment landscape. Read on for the full press release. More →
Mobile payments collaborative Isis has announced its first trial market, Salt Lake City. The group, which is comprised of AT&T, T-Mobile, and Verizon, plans to bring its contactless payment system to the Utah merchants in “early to mid-2012.” Isis also announced a working agreement with the Utah Transit Authority (UTA) to enable Isis payments throughout the entire public transportation system. “By working with the Utah Transit Authority, Salt Lake Chamber and Salt Lake City-area merchants, Isis is bringing the mobile commerce vision to reality,” said the group’s CEO, Michael Abbott. ”Salt Lake City consumers will experience a new way to shop, pay and save.” The announcement comes one day after a report suggested Sprint would develop its own mobile payment solution for future use. The full Isis press release is after the break. More →
According to Bloomberg, U.S. wireless provider Sprint is working on a mobile, touchless payment service based on NFC (Near Field Communications) technology. Sprint’s vice president of product platforms, Kevin McGinnis, told the publication that his company plans to make its touchless payment system “an open solution” that will work in a variety of physical locations. “Because we’re allowing other brands and other institutions to participate, they can also tell their consumers that this is available on Sprint,” McGinnis continued. The wireless company hopes to share in revenues generated by point-of-sales purchases, coupons, and other sales-related offerings delivered to user handsets. Gartner projects that 340 million mobile payment users from around the globe will be responsible for $245 billion worth of transactions by 2014.
U.S. carriers continue to jockey for position in an attempt to properly position themselves to ride the impending mobile payments tidal wave. Back in November of last year, AT&T, T-Mobile, and Verizon Wireless announced a partnership — dubbed Isis — that will bring mobile payments to their customers. Should the proposed AT&T and T-Mobile merger go though, it could pit the forces of a united AT&T and Verizon Wireless against Sprint.
Sprint has yet to publicly comment on its mobile payment plans. More →
Today, AT&T, T-Mobile, and Verizon Wireless officially took the wraps off of their rumored mobile payment service. Dubbed ISIS, the new “mobile commerce network” aims to use NFC (near-field communication) technology to make mobile phones the preferred method of payment for consumer point-of-sales transactions.
“While payments are at the core of the offering, it is only the start,” reads the press release. “Isis intends to deliver a complete mobile wallet experience that goes well beyond ‘credit card on a phone’ and makes the shopping experience significantly easier by eliminating the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes.”
The tri-network venture has a customer-base of over 200 million and expects to launch in “key geographic markets” in the next 18 months. ISIS will provide the associated wireless carriers with another revenue stream to help bolster their oh-so-important bottom lines. Hit the jump for the full press release. More →