Mobile Payments – Two Major Systems Set To Go In The US
Dueling mobile payment platforms were on display at Money2020 in Las Vegas last week, both offering substantial information to merchants and the ability to deliver coupons to consumers in addition to handling transactions. Participants get a secure SIM card to put in their phone and then they can use it at merchants with contactless (NFC) terminals.
Mike Abbott, CEO of Isis, whose Android-based mobile wallet is supported by a partnership of AT&T, T-Mobile and Verizon, said Isis will make it easy for customers to load their American Express, Discover, MasterCard and Visa cards into their phones. CapitalOne, which had been part of the partnership has dropped out and Apple does not support NFC.
It was clear from Abbott’s concise presentation that the company has spent a lot of time thinking about what each participant wants from a payment systems. Merchants want a system that is secure, won’t steal their data…
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