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  (Source: chinazrh.com)
Isis will attempt to embrace the large credit card companies like Visa and MasterCard

Three of 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. 

Verizon 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.  

While 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

Now, Isis 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 giants onboard.  

Enlisting 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 startup.





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