Google may have made waves when it partnered with MasterCard and Sprint to announce Google Wallet at the tail end of May, but today Isis made a pretty big announcement of its own concerning its own mobile payment service. It's been revealed that Visa, MasterCard, American Express, and Discover are all joining the Isis partnership, meaning that Isis is the first mobile commerce platform with support from all four major national payment networks. AT&T, T-Mobile, and Verizon came together to form Isis late last year in order to make it easy to make payments, carry rewards cards, etc., with your handset.
As pointed out by This is my next, it's kind of interesting to see MasterCard align with Isis after also joining up with Google and Sprint back in May. Whatever its reason for doing so, this is pretty big news for Isis that could convince Sprint to finally join the fold as well. Of course, we're still waiting for Isis to actually roll out the first trials of its mobile payment service, which the group says should hit Salt Lake City, Utah and Austin, Texas sometime in early to mid-2012. Peep the full press release from Isis below.
Isis Forms Relationships with Visa, MasterCard, Discover and American Express
Isis Becomes the First and Only Mobile Commerce Platform with Full Support of All Four National Payment Networks
Aspen, Colorado — July 19, 2011: Isis, the national mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced that Visa, MasterCard, Discover and American Express will join Isis in making mobile commerce a reality for millions of U.S. consumers and merchants. Isis’ relationships with all four payment networks mean that with Isis-enabled phones and payment terminals in place, merchants and consumers will have ubiquity and freedom of choice when it comes to payment network acceptance.
“Since the formation of Isis in November, we have been committed to building a mobile commerce platform that aligns and advances the interests of consumers, merchants and banks,” said Michael Abbott, chief executive officer for Isis. “By working with the nation’s payment networks – Visa, MasterCard, Discover and American Express – we significantly advance the vision of an open and secure platform that provides banks and merchants with a new and highly relevant way to connect with consumers.”
Today’s announcement underscores Isis’ inclusive approach, providing all critical stakeholders – banks, merchants and consumers – with the freedom and choice necessary to foster a robust new industry and make mobile commerce a reality.
“Visa has long championed an open approach to mobile commerce that allows consumers to choose which account they want to enable for mobile payments,” said Joe Saunders, chief executive officer, Visa Inc. “We are committed to working closely with Isis, handset manufacturers, platform providers and financial institutions to offer consumers a suite of mobile services – mobile payments, coupons tailored to location and lifestyle, real time account information and more.”
Earlier this year, Isis announced Salt Lake City, Utah and Austin, Texas as initial launch markets, slated to roll out in the first half of 2012 with support from all four payment networks.
“We fully support an open commerce ecosystem which will drive the scale necessary for widespread adoption of mobile payments, providing consumers with exciting new possibilities for shopping and saving,” said Ajay Banga, president and chief executive officer, MasterCard Worldwide. “Our work with Isis reinforces MasterCard’s commitment to the continued development, innovation and evolution of mobile payments technologies.”
Isis will bring mobile commerce to consumers and merchants by using mobile phones to make point-of-sale purchases through the use of near-field communication (NFC) technology. Isis will offer customers a secure and convenient way to pay, redeem coupons and store merchant loyalty cards, all with the tap of a phone.
“Discover has been working with Isis from the start to facilitate mobile commerce, which will provide added convenience and benefits to consumers while delivering increased loyalty and sales to merchants,” said David W. Nelms, chairman and chief executive officer for Discover. “Isis’ open strategy is the right approach to establishing a highly secure environment for mobile commerce that will be achieved through the participation of banks and payment networks like Discover.”
Since its formation, Isis has had a strong vested interest in generating industry involvement and support for a mobile commerce platform that is open and inclusive by design. By working with all four payment networks, Isis will set the standard for what it means to be open, secure and reliable in the mobile commerce industry.
“Isis is able to bring choice and opportunity to mobile commerce by helping cardmembers bring the cards in their leather wallet onto their mobile device,” said Bill Glenn, president, Global Merchant Services, American Express. “This relationship is another way for American Express to expand the digital experience in the social marketplace. As the line between online and offline continues to blur, American Express is leveraging our digital closed loop to help connect our merchant network with our cardmembers in any environment.”
Today’s announcement was made at the annual Fortune Brainstorm TECH conference in Aspen, Colorado.
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS™, a national mobile commerce venture that will fundamentally transform how people shop, pay and save. The Isis mobile commerce network will be available to all merchants, banks, payment networks and mobile carriers. Isis is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. The words "anticipate," "believe," "expect," "may," "plan," "should" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, including, without limitation, those set forth in the discussions of factors that may affect future results contained in AT&T, Deutsche Telekom AG's (T-Mobile USA is the U.S. wireless arm of Deutsche Telekom AG), and Verizon Wireless' filings with the Securities and Exchange Commission. AT&T, T-Mobile USA, and Verizon Wireless disclaim any obligation to update and revise statements contained in this news release based on new information or otherwise.