AT&T, T-Mobile, Verizon Launch Mobile Payment Network

Wednesday Nov 17th 2010 by Staff

The "Isis" payment network will allow smartphone owners to use their devices like a credit card.

InformationWeek: The three largest U.S. wireless providers--AT&T, T-Mobile and Verizon--have announced a new plan to create a network that will allow consumers to make in-store purchases using their smartphones instead of a credit card. The "Isis" network will roll out in "key geographic markets" during the next year and a half.

"While mobile payments will be at the core of our offering, it is only the start," said Michael Abbott, chief executive for the joint venture. "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."

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