As you may have read, today Visa and Isis, the mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, announced that they have entered into an agreement that will permit consumers who use the Isis mobile wallet to pay for goods and services with Visa credit, debit and prepaid accounts. By making Visa products available in the Isis mobile wallet, Visa expects consumers will be able to use their existing Visa accounts on mobile devices.
With Isis now enabling Visa payments in its open mobile wallet, Visa has added another element to its global strategy announced in May giving consumers more ways and places to pay, whether using a card, a computer or a mobile device. Bottom line: Visa payWave, Visa’s mobile payment application, is designed to enable Visa payments from third party open wallets, including Isis and Visa’s own digital wallet.
We arrived at today’s announcement because Isis recognized the benefits of embracing an open approach. Through Isis, we’ll develop a fully integrated suite of mobile payments and value-added services for consumers through close collaboration with the consortium, handset manufacturers, platform providers and financial institutions.
This afternoon I will be speaking on a panel with Isis CEO Michael Abbott at Fortune Brainstorm TECH in Aspen, Colorado. I invite you to tune in and watch the live webcast to learn more about Visa’s open approach to mobile commerce. Register here to watch the panel live starting at 4:35 pm CT time.
Posted by: Jim McCarthy, Head of Global Product, Visa Inc. on July 19, 2011 at 9:15 am