27 November 2015

Isis sign card networks to NFC m-payments service

20 July 2011  |  10052 views  |  0 Fingers on smartphone keypad

Isis, the contactless mobile payments venture set up by major US network operators has brought on board Visa, MasterCard, American Express and Discover.

AT&T, T-Mobile and Verizon Wireless set up Isis last year, banding together in a bid to gain a slice of the rapidly expanding and competitive mobile payments market.

The venture plans to roll out its service in Salt Lake City, Utah and Austin, Texas in the first half of next year before gradually spreading the offering nationwide.

The agreement with card firms means Americans with Isis-enabled phones will have ubiquity and freedom of choice when it comes to payment network acceptance.

The move to bring on board all four major card networks is the result of a change of approach made earlier this year when an exclusive agreement with Discover was ditched and the system opened up "to all merchants, banks, payment networks and mobile carriers".

Michael Abbott, CEO, Isis, says: "By working with the nation's payment networks - Visa, MasterCard, Discover and American Express - 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."

Joe Saunders, CEO, Visa, adds: "Visa has long championed an open approach to mobile commerce that allows consumers to choose which account they want to enable for mobile payments. We are committed to working closely with Isis, handset manufacturers, platform providers and financial institutions to offer consumers a suite of mobile services - mobile payments, coupons tailored to location and lifestyle, real time account information and more."

Despite its inclusive approach, Isis faces considerable competition. Sprint, the other big US mobile network operator, has spurned its rivals and is working on a rival service it hopes to launch by the end of the year. The biggest challenge though is likely to come from Google, which is piloting its wallet, using the MasterCard network, this summer.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

28 June, 2011
23 June, 2011
26 May, 2011
06 May, 2011
19 April, 2011
05 April, 2011
28 March, 2011
15 March, 2011
14 March, 2011
14 February, 2011
18 January, 2011
16 November, 2010
16 November, 2010
02 August, 2010

Related company news


Top topics

Most viewed Most shared
MIT to run fintech degree course
9321 views comments | 36 tweets | 14 linkedin
Coinbase issues Bitcoin debit card
8251 views comments | 18 tweets | 21 linkedin
Apple Pay users given a free ride in Londo...
8016 views comments | 21 tweets | 29 linkedin
BBVA buys 29.5% stake in Atom for £45...
7420 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
5855 views comments | 17 tweets | 25 linkedin

Featured job

Find your next job