Crisis for Isis

Isis recent backtracking seems to show that they are in trouble with their relationship with card providers.

Isis is a mobile payments joint-venture between AT&T, Verizon and T-Mobile in the US. They have recently started to scale back their originals plans to roll out their own mobile payment network of an m-wallet-style.

Isis for axiatelAccording to reports from the Wall Street Journal, Isis and their associates have decided that setting up a separate payments network would be too complicated and time-consuming.

The US-based carriers have had a slow start-up in the mobile financial services market as this new innovative style of banking has been greatly hindered by the inability of banks and carriers to agree upon a way to share customers.

The carriers are now said to be in negotiation with card issuers to create a mobile wallet service that operates around the storage and exchange of account data of current credit card users.

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