|I’m Dreaming of an Isis Christmas|
For nearly a year now, Austin, Texas and Salt Lake City, Utah have been the wildly successful test markets for an innovative, new way of making purchases in person. Isis®, the mobile commerce joint venture created by AT&T Mobility, T-Mobile US Inc. and Verizon Wireless, plans to roll out the Isis Mobile Wallet™ nationwide later this year, in time for the upcoming Christmas shopping season.
The Isis Mobile Wallet uses near field communication (NFC) technology to allow consumers to pay, redeem coupons and present loyalty cards with a tap of their smartphone. To use the Isis Mobile Wallet, consumers need an NFC-enabled smartphone and a SIM-based secure element, which together make the device Isis Ready®.
Nearly 20 million smartphones in market currently feature NFC technology, with millions more being shipped each month by three of the nation’s leading carriers. Thirty-five mobile devices across AT&T Mobility, T-Mobile US Inc. and Verizon Wireless currently support Isis and that number will continue to grow. Support for iPhone, Windows Phone and Blackberry 10 is expected to be introduced later this year.
Consumers that activate the Isis Mobile Wallet can pay at retail locations that accept contactless payments, the number of which has steadily grown over the past several years. Twenty-five of the top 100 national retailers have deployed or are deploying contactless terminals. Aite Group projects that 1.3 million locations in the U.S. will have contactless-ready payment terminals by year end, making it the most broadly deployed mobile payments technology at the point of sale.
Recent announcement of support for the Isis Mobile Wallet have been pouring in from industry giants like Coke, Chase Bank, and American Express as well as countless electronic payment processing companies. With all this corporate buy-in before the national launch, acceptance of this “wave and pay” or “tap to buy” technology is reasonably guaranteed.