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Isis is a joint venture between AT&T, T-Mobile and Verizon in the mobile payment space, announced on November 16, 2010. The system is based on near field communication (NFC) and allows users to pay by taping their mobile device to a payment terminal. Notably, Sprint is not part of the consortium. The CEO of Isis is Mike Abbott. The Isis mobile system has partnered with the Discover network and Barclaycard US.
On April 4, 2011, Isis announced it will pilot the Isis mobile commerce program in Salt Lake City in early to mid-2012. On July 19, 2011, a partnership was announced between Isis, Visa, MasterCard, Discover, and American Express.
On August 29, 2011, the three wireless carriers announced plans to invest more than $100 million in the project.
Isis uses several underlying technologies:
Currently, the service competes with two main competitors. Google have a product called Google Wallet (previously known as a similar service called Google Checkout) which aims to compete directly, as do Paypal, who already run one of the main payment methods across the internet and are competing for offline payments as well.
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