Mobile big boys investing 100 million dollars in mobile payments

The mobile payments industry is becoming more and more competitive with companies looking to develop devices that will have near field communication (NFC) technology. NFC technology allows for wireless payments, so you can pay for something by tapping your phone on a specialised reader. With Google Wallet being a major player in this industry, it’s no wonder that more companies are starting to introduce mobile payments. Last year AT&T, Verizon Wireless and T-Mobile announced that they would be joining together to have a nationwide mobile payments infrastructure called Isis. Now with Isis investing 100 million dollars in mobile payments services, competition is fierce.

With Isis investing 100 million dollars in this new initiative, they hope this will grab the attention of banks and other businesses. However it’s also likely to get the attention of Google Wallet who is already in this highly competitive industry, and they might even have to increase what they’re offering service users. As Isis has 3 strong companies in the communications industry within their force, they will want to use the contacts, expertise and customer relationships of each of the companies to help Isis get further ahead in the race of mobile payments companies. It’ll be interesting to see what else companies introduce in the future.

What do you think about mobile payments with Isis investing 100 million dollars in mobile payments services? When they’re introduced in the UK, will you be using them? Let us know your thoughts below.