Skip to main content

Verizon, AT&T, T-Mobile back Isis mobile wallet system

Google’s Eric Schmidt has generated some buzz talking about near-field communication (NFC) chips that could be used to turn mobile phones into mobile wallets, enabling consumers to make point-of-sale purchases with their cell phones just by getting them within a few centimeters of a point of sale terminal, instead of swiping a card. Not coincidentally, a new joint venture with major industry backing has just been launched to roll out that very technology. Isis, backed by Verizon Wireless, AT&T, and T-Mobile plans to roll out mobile phone commerce technology based on NFC communications, with service rolling out to “key demographic areas” by mid-2012.

Isis will be headed by Michael Abbot, a former financial executive with GE Capital. BarclayCard US, a subsidiary of Barclays PLC, is expected to be the first issuer on the network. Isis is also working with Discovery Financial Services’ payment network, which is already in place at more than 7 million merchant locations in the United States. Isis plans to make its services available to “all interested merchants, banks, and mobile carriers.”

Related Videos

“Our mobile commerce network, through relationships with merchants, will provide an enhanced, more convenient, more personalized shopping experience for consumers,” said Abbott, in a statement. “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.”

The system would work using short-range, high-frequency near-field communication to enable encrypted exchange of information between a point-of-sale system and a mobile phone. The technology only operates over a short range—about 3 to 5 centimeters—to eliminate the possibility of fraudulent transactions being carried out at a distance. Isis says the system is being developed to incorporate strong security and privacy safeguards.

The credit card industry is looking to NFC technology as a more-secure alternative to traditional credit cards. Although NFC technology does not in itself include any sort of encryption capabilities, mobile phones typically have more than enough processing power to handle encryption tasks, and point-of-sale terminals would be designed to handle encryption as well. Of course, no system is perfect, and attacks against NFC communications are possible, including nearby high-gain receivers, interference, data alteration, and capturing terminated sessions—of course, there’s also the possibility of phone-based malware taking advantage of NFC communications, and if consumers lose their mobile phone thieves might be able to make purchases in their names. There’s also a more fundamental problem: if a phone battery runs out of power, users lose all their purchasing power too.

Several handsets from Nokia, Samsung, LG, Motorola, and Sagem already implement NFC technology. Google’s Eric Schmidt announced that the forthcoming Android 3.0 “Gingerbread” will support NFC, and reports have the next generation of the Apple iPhone incorporating NFC technology.

Editors' Recommendations

Secure Your Value: Lock in the price of your Verizon phone plan for 3 years
Verizon store front displays the 5G network in NYC.

This content was produced in partnership with Verizon.
Prices are steadily climbing for fuel, groceries, products, services, you name it. This means that we will all have to budget more, spend less, and potentially cut out excess wherever we can. You certainly don't want to be seeing the costs of your bills going up, especially if you have budgeted for expected amounts. If you've ever opened or peeked at your electricity or water bills to see meter hikes, you know exactly what we're talking about. Even minimal jumps of $5 can throw your checkbook off balance so if you have the opportunity to lock in prices for good, at a reasonable cost, you should definitely take advantage. It will bring you peace of mind, but it will also make budgeting in these trying times much more manageable. During a period when many companies are elevating prices, Verizon is doing the exact opposite. Allow us to explain.

Verizon's Welcome Unlimited plan offers unlimited talk, text, and data access via its renowned 5G nationwide network. You can jump in for $25 per line, per month, for four lines, and you can bring your phone -- you don't have to buy a new one. Better yet, for new and existing customers, bringing their own devices, Verizon will lock in the price for three years. That means no surprise increases, no hidden charges, and honestly one of the smartest offers we've seen in a long while. Why Verizon, you ask? Don't worry, we'll dig into that, but for now, you can check out that Welcome Unlimited offer below, or keep reading. We have to point out that this is a limited offer and won't be available for long. Also, to celebrate three years of savings, Verizon is giving away 20 pairs of tickets to the SuperBowl for the third year in a row. For a chance to win, you can head to now or enter online - but do it soon because this sweepstakes ends February 15.

Read more
Here’s another big reason why T-Mobile 5G dominates AT&T and Verizon
T-Mobile smartphone.

T-Mobile continues to command a massive lead in offering the best 5G experience among U.S. carriers. A few weeks ago, a report from Ookla revealed that T-Mobile is leaving its rivals in the dust; now Opensignal has confirmed that not only is the Un-carrier’s lead increasing in raw speeds, but it’s leading the way in taking 5G into the mainstream.

According to Opensignal’s latest 5G Experience Report, T-Mobile not only offers the fastest 5G experience in the U.S. by a sizeable margin but on average, customers on T-Mobile spend nearly 50% of their time on the carrier’s 5G network.
Reaching for the best 5G coverage

Read more
The best grocery list apps for iPhone and Android in 2023
Walmart Grocery 2

As we've started moving away from paper in favor of jotting down notes on our phones, grocery lists have begun to migrate from small handheld notebooks and scraps of paper to become permanent residents of our phones' home screens. Staying properly organized, however, can be a little trickier than simply asking Siri or Alexa to make a list of the things that are on the top of your head. That's where the best grocery list apps come into play.

There are plenty of apps that can help you stay on top of your grocery list-making while also providing plenty of other great features like budgeting assistance, list organization, and coupon gathering. Here are the best grocery list apps to use for iPhone and Android for making lists to help you with your shopping. If you're looking for more productivity apps, check out our list of the best iPad Pro productivity apps, too.
Apple Notes

Read more