04 October 2015

Isis gains traction with 20,000 new wallet activations a day

14 May 2014  |  10905 views  |  0 Isis

Six months after launch, American telco-backed mobile payments venture Isis is picking up steam, claiming 20,000 new wallet activations a day over the last month.

The Isis wallet - owned by AT&T Mobility, T-Mobile USA and Verizon Wireless - launched in November. It lets Americans with an NFC-enabled Android handset, a special SIM and an app make contactless payments at more than 200,000 merchant locations.

The wallet is now supported on 68 smarthphones and comes pre-loaded on 14 devices. In addition, earlier this year it came to the NFC-less iPhone, although customers have to pay for a specially-designed sleeve for their handset.

With a rapidly expanding base of compatible handsets and merchants helping to push the service through special offers, wallet activations have averaged over 20,000 a day in the last four weeks, with the growth rate doubling over the prior month.

Jamba Juice says that it has seen strong growth in the number of people using Isis in its stores. By the end of the first quarter, its customers had redeemed more than 270,000 free smoothies by using the wallet.

Isis is now working to bring in more partners to entice users with deals similar to the Jamba Juice giveaway as it seeks to win out in the fast-growing, lucrative mobile contactless payments market.

However, competition is set to increase thanks to the rise of Host Card Emulation. Until recently telcos have held a trump card in mobile NFC payments through their control of the Secure Element. By studiously ignoring Google Wallet the Isis partners strangled adoption of the search giant's rival.

But Google, alongside Visa and MasterCard, is now throwing its weight behind HCE as a means of escaping the need for telco help, opening the way for it to offer a stronger challenge to Isis.

Nor is the way any clearer on the merchant front, with many of the nation's largest chains forming their own mobile payments consortium, dubbed MCX.

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

29 April, 2014
18 March, 2014
19 February, 2014
05 February, 2014
28 January, 2014
01 November, 2013
16 October, 2013
09 August, 2013
05 March, 2012
27 September, 2011

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
More global banks back blockchain collabor...
9964 views comments | 57 tweets | 49 linkedin
Iran joins fintech revolution
7491 views comments | 19 tweets | 5 linkedin
Banks face choice to collaborate or compet...
7341 views comments | 39 tweets | 45 linkedin
Samsung Pay lands in the US
5870 views comments | 25 tweets | 24 linkedin
Worldpay trials facial recognition technol...
5510 views comments | 21 tweets | 38 linkedin

Featured job

to £80K base + commission + bonus
London, UK

Find your next job