Isis, the national mobile commerce joint venture, announced relationships with American Express, MasterCard and Visa. The joint venture, spearheaded by Verizon Wireless, T-Mobile USA and AT&T, said the new relationships will give users of mobile-based payment more choice at the point of sale (POS).
The announcement was made yesterday at the annual Fortune Brainstorm Tech conference in Aspen, Colo.
"By working with the nation's payment networks – Visa, MasterCard, Discover and American Express – we significantly advance the vision of an open and secure platform that provides banks and merchants with a new and highly relevant way to connect with consumers," said Michael Abbott, CEO for Isis.
Earlier this year, Isis announced Salt Lake City, Utah, and Austin, Texas, as initial launch markets, slated to roll out in the first half of 2012 with support from all four payment networks.
"Our work with Isis reinforces MasterCard's commitment to the continued development, innovation and evolution of mobile payments technologies," said Ajay Banga, president and CEO, MasterCard Worldwide.
Isis will bring mobile commerce to consumers and merchants by using mobile phones to make point-of-sale purchases through the use of near-field communication (NFC) technology.