More national retailers signing on with Isis mobile wallet system

A mobile wallet payment system from the nation’s three largest mobile phone service providers, that will soon be tested in two major U.S. markets, recently received a significant boost in the form of a number of major retailers which will participate in its program.

Isis, the joint mobile wallet venture from AT&T, T-Mobile and Verizon Wireless, recently revealed that ahead of its testing phase later this year, it has partnered with a number of local and major national retailers to process payments made through near-field communications-enabled smartphones, the company announced. The test phase will begin later this year in both Salt Lake City, Utah, and Austin, Texas, and while the company has found a number of popular local merchants in those cities to partner with in its pilot program, the real prize was its new major national partners.

Among the major names that will now accept payments through the Isis mobile system are Aeropostale, Coca-Cola, Champs, Dillard’s, Foot Locker, Jamba Juice and Macy’s, the report said. When the program is launched later this year, hundreds of merchants in Austin and Salt Lake City will be able to accept payments through the swipeless purchasing system.

“Today’s announcement signals the mobile commerce experience has arrived,” said Jim Stapleton, chief sales officer for Isis. “A strong merchant base in Austin and Salt Lake City will make the Isis Mobile Wallet real for consumers as they choose to use their mobile wallet at many of their favorite merchant locations to pay and redeem offers. We look forward to working closely with both local and national merchants to enable a mobile commerce experience that transforms how consumers shop and interact with their favorite brands.”

Added benefit to consumers

While perhaps one major driving force behind consumer adoption of this and other mobile wallet programs will be the convenience and security it affords borrowers, another might be that Isis will work with its local and national retail partners to develop shopping deals for those who use it, the report said. Through the program, merchants will be able to extend relevant offers to customers, and allow them to attach their loyalty program accounts to those for Isis.

When the program launches, NFC-enabled smartphones will be available at AT&T Mobility, T-Mobile and Verizon Wireless stores, all of which will come preloaded with the Isis app, the report said. In addition, a number of major credit card issuers and payment processors have signed on with the program to make accounts consumers may have through them available to use with Isis.

NFC wallet technology is expected to be the next big thing in mobile transactions. Many experts believe these programs will recover from some initial stumbling blocks also faced by mobile banking to become extremely popular with consumers within the next few years. Currently, the biggest obstacles mobile wallets have to overcome include lack of availability and consumer worries over security.

Posted in Finance
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