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Isis NFC Payment System Receives Official Name, Secures First Banks, and Briefly Discusses Plans for 2012 Rollout

Isis – the NFC mobile payment system that was started by Verizon, T-Mobile, and AT&T – received its first banking partners today, along with a product name and some details on how they plan to roll out. The product will officially be called Isis Mobile Wallet and will welcome in Capital One, Chase and Barclaycard as their first card partners. Since they already secured Visa, Mastercard, American Express and Discover, it’s now up to the rest of the banking industry to give their cards the thumbs up.

Not familiar with Isis? Again, this NFC-based mobile payment system was created by Verizon, T-Mobile and AT&T with hopes of making NFC and mobile payments a common practice. They fell under scrutiny a couple of months ago when it was discovered that Google Wallet (a direct competitor) was not accessible on the Verizon Galaxy Nexus. Most pointed fingers directly at their Isis product as the reason why Wallet was not allowed on the phone. Verizon denied that they were blocking it and that it had anything to do with Isis.

So far though, we have not heard any of Isis’ plans to actually produce a product that we can use. According to their press release today, we should see the first markets go live some time in mid-2012. The first two cities to get access are Salt Lake City, UT and Austin, TX with a nationwide rollout happening soon after.

No matter what, this is amazing news for the NFC industry. With these 3 carriers behind it, all of the major credit card companies, and a first batch of banks, mobile payments will soon be in your lives. NFC chips are becoming more common in newer phones and by the end of the year or early 2013, you may be ditching your wallet after all.

Via:  Isis

  • http://twitter.com/savagejeep SavageJeep

    Anyone hear anything about an updated timeline as to when Google was going to fix the prior pre-paid cards? IT IS STILL UNAVAILABLE!!

  • summit1986

    Will a locked out Secure Element with Google Wallet be an issue when Isis comes out, or will it be exclusive to Wallet?  Sorry if it’s a dumb question.

  • gadgetryan

    as long as I can use my google wallet at 711 im good!! oh, now they have google wallet terminals at Chevron I am covered!! 

  • KevinC

    yeah right, no way I’ll be ditching my wallet anytime soon….at least until they fix the battery life on these LTE phones.

  • q`Tzal

    I’m curious to see how incompatible NCF/ SD cards will be with the inductive charging door on my Droid 4.

    Back when the D4 release was Dec 9, 2011 I thought I’d wait for the D5 with built in NFC and a non-pentile screen.
    After the D4’s mysterious release date delay, followed by delay, followed by more delay, followed by Motorola’s PR statement about slowing down all smartphone releases I decided not to wait for a D5 that would likely not be released until all its component advances were obsolete.

  • http://www.facebook.com/profile.php?id=100000155987673 Austin Mutschler

    Kellex, are you forgetting something? Just like mobile hot spot was amazing, so is this. However, it also gives the carriers the right to put a huge and outrageous price on the feature, just like mobile hot spot. If Google supported more cards, and wasn’t blocked by carriers, it would dominate the NFC payment business. If you ask me, this is just another feature that I don’t have enabled on my phone because it cost way to much.

  • http://www.facebook.com/profile.php?id=100000155987673 Austin Mutschler

    And it will only cost $50 more a month!

  • Jim McClain

    used my google wallet just today, works just fine

  • Tron

    There is no speculation about a timeline.. this thing will be rolled out in all markets 1 week prior to the iphone 5 launch… Wish Google would step up their game so we don’t have to wait for the sheep to get the ball rolling!

  • Anthony Vella

    So I go to buy a soda for $0.99, I GUARANTEE there will be a certain tax fee on this service. (Especially Verizon) No one except Google launches something without without a catch. I am guessing a 5% fee.

    • Rmadler

      Not true. There already is a fee that the merchant pays when you use a credit card. Google and ISIS will participate with that fee and the consumer pays nothing.

  • http://twitter.com/expertontech Tylar Overturf

    Glad I only live about 20min from Salt Lake City.

  • jathak

    I’d prefer to use Google Wallet over something tied to the carriers, but since I’m limited to Citibank and Prepaid on GW, I might end up using this.

    • Rmadler

      Google Wallet is currently tied to Sprint. ISIS is tied to Verizon, T-Mobile and AT&T. Let the games begin.

  • riktking

    needs to be made international, feeling unloved in the uk here :(

  • IseWise

    Almost all will be forgiven if Verizon can get this up and running. I like Google Wallet but I cant directly link Wallet and my debit Mastercard. If on Isis, I can, I’ll be pretty happy. 

    • Rmadler

      Google Wallet works fine on my Verizon Galaxy Nexus.

  • KRS_Won

    Now, if for the rest of us, NCF/ SD cards start to hold at least 16gb….
    that’s a huge market to add.

  • Aaa

    Personalized coupons, rewards, and content? Yay for being tracked! Yay for ads! 

    (Not that I wasn’t expecting it)

  • Peter Kelly

    I kind of like the fact that I need to use a prepaid card for GW.
    Until it gets off the ground, all the security issues are addressed, etc, I’ll happily just dump $100 at a time to the prepaid.  

    I know I’m not liable for fraudulent charges to my AMEX, but it would be a pain in the butt to change the account number.

    And, really, anything to enable more NFC readers in the real world is a good thing.

  • enigmaco

    Woohoo my bank is one of them

  • sc4fpse

    Chase? Visa? Sign me up. Google Wallet has gone nowhere since it launched. And without seamlessly being able to use my debit card without having to buy prepaid amounts, I won’t use it regularly. I can’t wait for this.

  • ERIFNOMI

    This works with my bank, Google wallet doesn’t. Sadly, I’ll probably use this. If GW adds my bank, then I’ll switch.

  • TROLOLOL

    Apple will have a clone of this, codenamed “SISI”

    • feztheforeigner

      And it will be both “revolutionary” and “magical”. Suddenly, Apple just invented the coolest thing ever: NFC…

      /s

    • http://profiles.yahoo.com/u/PP2KC2NKYXJ5AUNAJWRZTBRPUA Matty G

      Cornering the hispanic market

  • RobbyG

    Viva Google Wallet!

  • http://twitter.com/KFite13 Kevin Fite

    They will all want to charge you to use it most likely, I mean they charge for everything else, why not charge you to use your money.

  • John

    I used Wallet for the first time yesterday (after finding out they give you $10 free for just activating it on your device), and it was freaking seamless/awesome. I’m hooked.

    • Guest

      Where did u use it? Cuz I wanna try it out

  • http://twitter.com/razinlightyear AndrewRazin

    very nice. I am a Nexus in SLC!!

    • Wilsonium

      I am hopeful that there will be no charges to the end user. I thought ISIS’s revenue model draws revenue from the banks offering services similar to the way NFC cards work today through the merchant fees. However, since the carriers precluded Google Wallet from their phones by omitting a secure element we will be probably have to tie ourselves to a carrier supplied SIM or SDCard with a secure element. The carriers are going to try to chain you onto their service as a way of keeping you there. If they choose a SIM option, consider the PITA it would be to change carriers AND all your NFC info.  All this no doubt will come at an additional charge to us somewhere either up front on our cellular bills or on the backend as merchant fees passed along in the cost of goods. 

      And yes, it’s sad that we have to wait for the sheep to give Android users the critical mass for merchants and additional banks to get on board. Apple has the customer base, a monolithic mobile platform and could quickly transform iTunes into a hybrid store/transaction processor. Think of all those sheep asking merchants… “Do you accept iPhone?” 

  • sahilm

    Honestly, after the whole Google Wallet thing, I really really really really hope that Verizon puts this on the Galaxy Nexus. 

    I love Google Wallet as much as the next guy on this blog, but I think everyone can admit that GW support is way too little right now (talking about how only Citibank and Prepaid work).