Sometime ago we posted about T-Mobile, AT&T, and Verizon’s cohesive venture to bring your debit/credit card to your phone. Today, ISIS announced that the plans are now moving forward.
ISIS and the 3 major carriers hope to open up the ISIS service to their combined 200 million customers They are all shooting for key markets over the next 18 months. The Isis mobile wallet will eliminate the need to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes. All will be replaced with your phone.
The way the payements work is by what is called NFC. NFC is short for Near-field communication. It is a high frequency wireless communication that can securely protect infomation between devices. The distance is very short. It’s not the 30 foot bluetooth range we are used to and that’s good. The closer, the more secure.