the United States' largest wireless carriers have decided not to establish a
separate network for mobile transactions due to the difficulty and time
consumption of this task.
Wireless, AT&T Inc. and T-Mobile USA came together to form Isis, which
was supposed to be a group effort "to take market share away" from
MasterCard Inc. and Visa Inc. through its own mobile payments network. In
addition, Isis was to use Discover Financial Services' national payment
network, which consists of 7 million U.S. merchant partners.
Isis still plans to partner with Discover, a spokesman for Isis said it is
still open to "new alliances." Also, Isis feels it needs to embrace
other major credit card companies like Visa and MasterCard in order to insure
that it does not fall
behind in the mobile payments market.
is establishing a "mobile wallet," which will store and exchange
financial account information on a consumer's MasterCard, Visa, etc. via mobile
devices. Verizon, AT&T and T-Mobile are currently negotiating with Visa and
MasterCard regarding the mobile wallet, and hope to bring both credit card
Visa may prove to be advantageous because the global payments technology
company seems to be in almost every realm of the NFC world. For instance, Visa
offered a personal payments
service to those with eligible Visa accounts, allowing them to
exchange money with one another without the use of cash or checks. In addition,
Visa just joined Samsung in an NFC venture for the London 2012 Olympic
Games, and more recently, the credit card heavyweight invested a large sum of money in the Square mobile payments