The ISIS mobile payment system is set to go live on October 22, according to some leaked memos from the carrier. Shared by TMoNews, the image reveals that the ISIS Mobile Wallet app will arrive at Google Play store on October 22. Those in Salt Lake City, Utah, and Austin, Texas, will be able to use the system as part of a pilot program.
The Financial Services Information Sharing and Analysis Center warned banks to be on heightened alert after Bank of America and JPMorgan Chase experienced unexplained outages of public-facing websites on Wednesday. The warning cited "recent credible intelligence" as the justification for raising the threat level similar to that of the Department for Homeland Security scale from "elevated" to "high."
Isis, the mobile commerce venture between AT&T, T-Mobile, and Verizon have finalized their wireless payment standard for mobile devices, calling it Isis Mobile Wallet. It's due to launch this summer, with Chase, Capital One, and Barclaycard being the first banks to sign up and have their credit, debit, and prepaid cards be compatible with the system. The first merchants to support the system will be located in Salt Lake City and Austin, Texas. Like Google Wallet, its major competitor, Isis Mobile Wallet let users securely pay for goods and merchandise with their handsets.
Square founder Jack Dorsey in a letter rebuffed the claims made in VeriFone's smear attack on his Android and iOS mobile payment readers. The accusation of easy data 'skimming' was "not a fair or accurate claim" and overlooked the basic reality of credit cards. Anyone who you give a credit card already has enough to get information, and no encrypted system would stop this, Dorsey said.
