Verizon, T-Mobile and AT&T invest $100 million in Isis; prepare mobile payment battle with Google

Verizon Wireless, AT&T and T-Mobile have made a $100 million investment in ISIS, a joint venture created by the three carriers to fuel the growth of mobile payments. The investment has been largely viewed as an attempt to bolster ISIS’ business to better compete against Google and its own mobile payment system, Google Wallet. “Over the long haul, operators have to create new businesses that derive value from more than access,” wireless analyst Chetan Sharma told Bloomberg. “It’s a given that people are going to be transacting more over cell phones. It could open a potential new revenue stream for them.” Verizon, T-Mobile and AT&T formed ISIS in November of last year and hope, by partnering, the carriers can launch

Source: http://www.bgr.com/2011/08/29/verizon-t-mobile-and-at-prepare-mobile-payment-battle-with-google/

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