Isis inks POS integration deals with VeriFone, ViVOtech and Ingenico
Isis, the forthcoming nationwide m-commerce network spearheaded by Verizon Wireless (NYSE:VZ), AT&T (NYSE:T) and T-Mobile USA, continues to build out its ecosystem by announcing agreements with point-of-sale terminal manufacturers VeriFone, Ingenico, ViVOtech and Equinox Payments.
Per terms of the agreement, the four manufacturers will integrate and support the Isis m-commerce app in current and future product lines, offering merchants greater flexibility in how they upgrade to Isis-enabled payment terminals. According to Isis, retailers will become Isis-enabled through a combination of new payment acceptance systems and NFC add-ons devices--merchants can also leverage remote software upgrades of selected devices already in the field.
Verizon Wireless, AT&T and T-Mobile USA first announced Isis in late 2010, vowing to introduce a Near Field Communications-based mobile wallet platform enabling consumers to securely pay for purchases, redeem coupons and present loyalty program credentials by tapping their smartphone against a corresponding reader device. In May 2011, Isis stated it would open its system to all interested credit issuers and banks, and two months later welcomed financial services providers Visa, MasterCard, Discover and American Express to its ranks. According to Isis, its relationships with the four U.S. payment networks afford banks the flexibility to enable any major network payment card while giving consumers the choice to decide which cards to load into their digital wallet.
Six device manufacturers--HTC, LG, Motorola Mobility (NYSE:MMI), Research In Motion (NASDAQ:RIMM), Samsung Mobile and Sony Ericsson--have committed to introducing products that support the Isis platform. Late last year, Isis also announced it will team with digital security firm Gemalto to boost safety around mobile payments and related services. Last week, the network added card services partners Chase, Capital One and Barclaycard, allowing consumers to load eligible credit, debit and prepaid cards to Isis Mobile Wallet when trials begin in Salt Lake City and Austin, Texas later this year.
Isis faces competition from a host of rival m-payment services, including the Google (NASDAQ:GOOG) Wallet tap-and-pay application. Initially limited to Sprint Nextel (NYSE:S) Nexus S smartphones, Google Wallet expanded to AT&T's (NYSE:T) Android-powered Galaxy Nexus smartphones running an AT&T SIM card following an Android Market device compatibility update issued earlier this month. At last week's Mobile World Congress 2012 conference, vice president of Google Wallet and Payments Osama Bedier said Sprint will introduce "at least 10 additional phones" with support for Google Wallet this year.
Mobile payments for digital and physical goods, mobile money transfers and NFC-enabled contactless transactions will almost triple from $240 billion in 2011 to $670 billion in 2015, Juniper Research forecasts. The firm credits the accelerating adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers in both developed and emerging markets as the catalysts behind the expected growth, adding that the number of mobile money users will double by 2013.
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