Isis, the groundbreaking joint venture spearheaded by three leading U.S. mobile providers, confirms plans to expand its mobile payments service nationwide before the end of 2013.
Following protracted trial periods and extensive testing in a handful of markets, the big coast-to-coast market introduction appears to loom large at last.
Isis, formed by Verizon Wireless, AT&T Inc and T-Mobile US, is a so-called mobile wallet service that allows consumers to make payments by waving their phone at a check-out terminal, instead of using a plastic card.
“While mobile payment services are long-established in other countries including Japan, they have been slow to take off in the United States as they require retailers to install new equipment and cooperation between banks, wireless providers, handset makers and credit card companies,” Reuters reports.
But as cash is quickly becoming obsolete, mobile payment solutions are poised to become the new standard in commerce.
According to the team at PayAnywhere, a leading mobile payments service provider, security is just as influential as convenience in driving the slow but steady mobile payments revolution in the U.S.
“Mobile devices provide the safest means for carrying money, period,” reads a recent post on the PayAnywhere Blog. “Whenever a smartphone or pad is stolen, sensitive data can be removed via third-party apps, allowing users the piece of mind in knowing that all money is safely stored beyond the reach of potential thieves. And when it comes to organization, apps eliminate the hassle and confusion that stems from sorting through cash and coupons inside of purses or wallets.”