Isis, the mobile payments venture formed by AT&T Mobility, T-Mobile USA and Verizon Wireless announced today that Chase, Capital One and Barclaycard have agreed to enable their credit, debit and prepaid cards to be placed into the Isis mobile wallet.
The consortium has also previously forged partnerships with Visa, MasterCard, Discover and American Express and will use a technology known as near-field communication (NFC) to allow customers to make point-of-sale purchases by waving their smartphones over scanners. The service is scheduled to launch in the first half of 2012 on a limited basis in Salt Lake City, Utah and Austin, Texas before a full rollout.
"Today's announcement is testament to the vision and commitment of Chase, Capital One and Barclaycard to make mobile commerce a real and positive experience for their customers," said Michael Abbott, CEO, Isis in a statement. "Mobile commerce is more than a new way to pay; it's about extending the relationships consumers enjoy with their banks and merchants into a powerful and convenient new form factor."
Isis has also previously announced the selection of digital security firm Gemalto to secure its mobile commerce platform as it gears up towards its rollout.
According to Isis, up to 1,000 POS terminals will be able to support its NFC payment system at the time of the launch.
[For more on Isis see related content.]
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio