Verizon Wireless, AT&T and T-Mobile are planning to invest more than $100 million to take on Google with Isis, the companies’ mobile payment project, according to a report.
Isis, which the three carriers announced last November, is a mobile payment system that uses near-field communication. The three companies hope that it will be a viable competitor to Google Wallet, a NFC solution from the search engine giant that is rolling out in the market this year.
According to Bloomberg, the three carriers have earmarked $100 million for the venture. Previously, no funding had been announced.
Mashable could not reach reps from the carriers for comment on the report.
In addition to enabling mobile payments, Isis would also let consumers redeem coupons at the point of sale. Isis has built partnerships with the top credit card firms — Visa, MasterCard, Discover and American Express — to make that possible. The service is expected to roll out sometime in 2012.
Meanwhile, Google unveiled Google Wallet in May. A range of merchants, including CVS, Petco and 7-Eleven now accept Google Wallet for payment.
Image courtesy of iStockphoto, coreay
More About: att, Google, google wallet, nfc, T-Mobile, verizonFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Mon, 29 Aug 2011 18:40:19 +0000 at http://feeds.mashable.com/~r/Mashable/~3/2mTzxKwP-lo/
Comments: http://mashable.com/2011/08/29/verizon-att-t-mobile-isis/#comments
Isis, which the three carriers announced last November, is a mobile payment system that uses near-field communication. The three companies hope that it will be a viable competitor to Google Wallet, a NFC solution from the search engine giant that is rolling out in the market this year.
According to Bloomberg, the three carriers have earmarked $100 million for the venture. Previously, no funding had been announced.
Mashable could not reach reps from the carriers for comment on the report.
In addition to enabling mobile payments, Isis would also let consumers redeem coupons at the point of sale. Isis has built partnerships with the top credit card firms — Visa, MasterCard, Discover and American Express — to make that possible. The service is expected to roll out sometime in 2012.
Meanwhile, Google unveiled Google Wallet in May. A range of merchants, including CVS, Petco and 7-Eleven now accept Google Wallet for payment.
Image courtesy of iStockphoto, coreay
More About: att, Google, google wallet, nfc, T-Mobile, verizonFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Mon, 29 Aug 2011 18:40:19 +0000 at http://feeds.mashable.com/~r/Mashable/~3/2mTzxKwP-lo/
Comments: http://mashable.com/2011/08/29/verizon-att-t-mobile-isis/#comments
