According to sources cited by Bloomberg, AT&T, T-Mobile, and Verizon Wireless are planning to invest up to $100 million into their Isis mobile payment joint venture.
Isis will eventually bring near-field communications payment services to mobile devices sold by the three networks. Isis already has the support of credit card companies MasterCard and Visa. The amount of the investment by the three carriers will be based, in part, on how successful Isis is at attracting banks and merchants to support mobile payments.
Isis will compete directly with the Google mobile wallet service, which is being trialled by Sprint. The potential $100 million investment demonstrates the carriers’ commitment to making mobile payments a reality.
