Printed from http://www.electronista.com

AT&T, T-Mobile, Verizon put $100m into Isis to beat Google

updated 04:55 pm EDT, Mon August 29, 2011

Isis to get $100 million infusion from founders

The joint venture between AT&T, T-Mobile USA and Verizon Wireless that is mobile payment company Isis will get a more than $100 million investment from its founders, Bloomberg reported, citing unnamed sources. The private financing will help the company compete with rival firms that offer mobile payments, including Google. How much funding will come Isis' way depends on how successful the company is at bringing banks and merchants onboard, however.

The market of tapping devices at a checkout for payment may grow to as much as $670 billion by 2015, Juniper Research believes. Before year's end, such mobile payments across the world will amount to $240 billion, the consulting firm found.

Isis, due to go live in large US cities like Salt Lake City and Austin in 2012, will also let users get and redeem coupons on their mobile devices. Participating companies will be charged a fee for this option.

Isis formed partnerships with Visa, MasterCard, Discover Financial Services and American Express. Visa is also working on its own mobile payment service.

Samsung and BlackBerry maker RIM are already making handsets with near-field communications (NFC) to make the mobile payments possible. Nokia, Apple, and others are also either developing or rumored to be developing phones with NFC built-in.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

ActvContent Sync Smartband

Smartbands of all sorts are hitting the market. Some build on the buzz around fitness trackers, while others offer simpler features fo ...

RocketStor 6324L Thunderbolt 2 eSATA bridge

Like it or not, the shift to Thunderbolt is underway. The connection is extremely flexible, allowing for video and data to co-habitate ...

Patriot Stellar Boost XT 64GB USB 3.0 drive

A vast selection of USB memory sticks means that consumers can often find exactly the size drive they need in a configuration that can ...

Sponsor

toggle

Most Commented

 
toggle

Popular News