Gadgets

Coming This September: Isis Mobile Payment System

Isis Mobile Payment System

Source: Isis Mobile Payment System | Official Website

Mobile payment system Isis gears up for a September debut after several delays that include how the service would work. The system is supported by major mobile carriers like AT&T, T-Mobile, and Verizon Wireless.

It was originally launched last year, hoping that the service would go live in the first half of 2012. However, the telco ran into issues that included security concerns. Thus, it opted to leave credit-card operators to process the transactions rather than the carriers themselves.

Overcoming Market Obstacles

After the initial launch last April 2011, Isis’ official launch day was moved to September 2012, since the mobile payment market has a number of obstacles to overcome before it is widely used. Retailers are also interested in NFC not as a way to speed payments, but as a way to engage customers.

Bob Egan, an analyst from Sepharim Group, pointed out that nobody knows how the system would evolve despite the “outrageous forecasts.” Regardless, Isis is coming soon, and it will compete against Google Wallet and similar mobile payment services.

Isis will be initially available in Salt Lake City and Austin when it rolls out next month. The mobile payment system partnered with Utah Transit Authority in Salt Lake City to process fare transactions. Meanwhile, Austin was selected for its tech-savvy culture, and its terminals will be available at selected merchants around the city.

Near Field Communication Concerns

With the birth of various mobile payment system nowadays, Near Field Communication in mobile phones also started catching up. Competing services like Google Wallet has began pushing their services heavily, together with their wireless partner Sprint.

In addition, carriers are also releasing more and more devices that are NFC-capable—even Apple’s so-called next-generation iPhone is said to have NFC capability. However, it was reported by AppleInsider that this rumor is less likely to materialize. Nevertheless, mobile’s tap-to-pay service is catching on.

On the other hand, the reason Google Wallet and similar services are having a hard time making it in the market is due to lack of support. It is supported by one carrier only, which is Sprint, in addition to credit card operators such as MasterCard, Citi, and First Data.

With Isis, the system is built with the consent of three major carriers and various credit card providers, including Visa, MasterCard, and American Express. Although the addition of mobile payment system can be cumbersome for users, the release of Isis is believed to prompt phone manufacturers to create mobile devices that feature NFC capabilities.

Leave a Comment