AT&T, Verizon and T-Mobile are teaming up to help build the Isis national mobile commerce network. The project will use near-field communication technology in smartphones to manage point-of-sale purchases.
The carriers are working with Discover Financial Services, and they claim the Isis service will be available to over 200 million customers. Barclaycard US is expected to be the first issuer on the Isis network.
Isis aims to turn your iPhone into your wallet
The project aims to eventually move beyond using smartphones for purchases, too.
“While mobile payments will be at the core of our offering, it is only the start,” said Isis CEO Michael Abbott. “We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes.”
The carriers aren’t saying exactly when they expect the Isis payment network to roll out.