Isis Teams Up with Visa, MasterCard, Discover and American Express for Mobile Payment

Isis, the joint venture between U.S.-based major carriers AT&T, T-Mobile and Verizon Wireless, has just announced that it has signed an agreement with Visa, MasterCard, Discover and American Express to bring mobile payment to U.S. consumers and merchants.

Isis mobile payment service is expected to be launched in Salt Lake City, Utah and Austin, Texas in the first half of 2012 and will support all four payment networks.

With the new partnership, Isis strengthens its position among the future mobile payment service providers and promises to offer consumers and merchants more payment options.

Those who are not familiar with Isis mobile commerce service should know that the joint venture is expected to allow consumers and merchants to use their mobile phones to make point-of-sale purchases through the use of near-field communication (NFC) technology.

In addition, Isis will offer customers a secure and convenient way to pay, redeem coupons and store merchant loyalty cards.

“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, chief executive officer for Isis.

Although the company has yet to show any capabilities of its mobile payment service, since its formation in November, Isis has had a strong interest in generating support for a mobile commerce platform that is open and inclusive by design.

“We are committed to working closely with Isis, handset manufacturers, platform providers and financial institutions to offer consumers a suite of mobile services – mobile payments, coupons tailored to location and lifestyle, real time account information and more,” said Joe Saunders, chief executive officer, Visa Inc.

By working with Visa, MasterCard, Discover and American Express, Isis hopes to improve its standard for open, secure and reliable mobile commerce.