US-based mobile operators AT&T,
T-Mobile USA and Verizon have formed a long-rumoured joint venture,
Isis, with the aim of allowing consumers to use their mobile
handsets as contactless payment devices.
Neither MasterCard or Visa will
participate in the Isis initiative and will stick to promoting
their own m-payment networks.
Go deeper with GlobalData
Isis has already signed up its first card
issuer – the US unit of Barclaycard – and will initially target the
200m customers of the three wireless operators.
Isis said that transactions will be routed
over Discover’s payments network.
Initially, Isis will offer credit card,
debit and prepaid services but plans to extend its offering to
include coupons and loyalty programmes.
James Anderson, head of
mobile product development at MasterCard, told The Wall Street
Journal: There’s no unique technology angle that’s been
brought here.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataVisa’s head of mobile
Bill Gajda, said: “The best option for mobile operators is to work
with a widely accepted network like Visa instead of asking
customers to adopt a new relationship.”
