• November 16, 2010

AT&T Mobility, T-Mobile USA and Verizon Wireless have banded together to build a national mobile commerce network called ISIS. The joint venture will look to use smartphone and near-field communication to enable consumers and merchants to make payments of all types through their mobile phones.

"While mobile payments will be at the core of our offering, it is only the start," said Michael Abbott, Chief Executive Officer of Isis, in a statement. "We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes."

Isis is working with Discover Financial Services' payment network to develop the payment infrastructure, while Barclaycard US is expected to be the first issuer on the network.