US carriers join forces for mobile payments network

Leading US mobile operators AT&T, T-Mobile USA and Verizon Wireless have banded together to build a national mobile commerce network, allowing users to make point of sale purchases using mobile phones.

The joint venture project, known as Isis, will make use of smartphone and near field communication (NFC) technology, delivering new levels of competition and value to consumers and merchants. Isis expects to introduce its service in key geographic markets during the next 18 months. Barclaycard US is expected to be the first issuer on the network, offering multiple mobile payment products, although the mobile commerce network will be available to all merchants, banks and mobile carriers.

Michael Abbott, formerly with GE Capital, has been named as chief executive officer of Isis.

“Our mobile commerce network, through relationships with merchants, will provide an enhanced, more convenient, more personalized shopping experience for consumers,” said Abbott. “While mobile payments will be at the core of our offering, it is only the start. 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.”